Antares Capital is serving as administrative agent and sole lead arranger on a senior secured credit facility to support the acquisition of SmartBear Software (SmartBear) by Francisco Partners.
Founded in 1999 and headquartered in Somerville, MA, SmartBear is a global leader in software quality tools for teams. With over 22,000 customers, SmartBear is integral in helping software developers and testers create the highest quality software applications.
“Antares’ software knowledge and flexibility were key during this transaction,” says Brian Decker, principal at Francisco Partners. “We appreciate working with a team that understands our investment philosophy, and has a history of supporting growth companies within the technology sector.”
“SmartBear has experienced impressive growth and leadership, especially within the rapidly expanding API lifecycle management space,” says Matthew Fleming, managing director for Antares. “We’re pleased to support SmartBear management and Francisco Partners as they continue to drive growth for the business.”
