Boston, January 31st, 2017
Crystal Financial LLC, an independent commercial finance company, announced its investment in a $50.0 million Term Loan Facility for Model N, Inc. (NYSE: MODN). Based in Redwood City, CA, and founded in 1999, the Company is a provider of cloud-based revenue management solutions to life sciences, technology and manufacturing companies.
Proceeds from the transaction were used to complete the acquisition of Revitas, Inc., also a provider of life sciences revenue management software, which closed January 5th, 2017.
Mark Tisdel, chief financial officer of Model N said “The acquisition of Revitas brings together two innovators during a critical time in the pharmaceutical industry. This strategic transaction allows us to accelerate innovation across a broad set of applications. Steve Migliero and the Crystal team were very supportive throughout the process. They were responsive and delivered the financing necessary for this important acquisition.”
“There is no question that in today’s competitive and complex environment, the capabilities in the Model N Revenue Management solution are a must have for their customers to grow their revenue and enhance profitability,” said Steven A. Migliero, Jr., Senior Managing Director of Crystal Financial. “We are excited to be working with such a high quality management team and organization.”
About Crystal Financial LLC
Crystal Financial LLC, a portfolio company of Solar Capital Ltd. is an independent commercial finance company that provides senior and junior secured loans for both asset-based and cash flow financings (minimum of $10 million in fundings) to middle-market companies. Its team of experienced, responsive professionals has underwritten, closed and managed more than $20 billion in secured debt commitments across a wide range of industries. For more information please visit www.crystalfinco.com.
About Model N
Model N is the leader in Revenue Management solutions. Driving mission critical business processes such as configure, price and quote (CPQ), contract and rebate management, business intelligence, and regulatory compliance, Model N solutions transform the revenue lifecycle from a series of disjointed operations into a strategic end-to-end process. With deep industry expertise, Model N supports the complex business needs of the world’s leading brands in life sciences, technology and manufacturing across more than 100 countries, including Johnson & Johnson, AstraZeneca, Boston Scientific, Novartis, Microchip Technology and ON Semiconductor. For more information, visit www.modeln.com.
Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.
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