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Technology Finance
Supporting sponsor-backed technology firms with recurring revenue streams.
The Technology Finance group at PNC Business Credit offers creative capital solutions tailored around the intrinsic value of recurring revenue streams of SaaS, On-Premise Delivery and other technology firms.
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Our Approach
Software-as-a-Service and subscription delivery models are a proven and viable option for technology companies. They can secure long-term customer relationships and a dependable revenue stream. As your private equity group builds solid software companies, you need a capital provider that is familiar with your investment needs.
The Technology Finance group at PNC Business Credit has developed capital solutions that can help meet the growth and financial objectives of companies with recurring revenue. If your firm backs an enterprise software or technology-enabled company, we may be able to offer senior debt based on the intrinsic value of established recurring revenue streams. We deliver solutions consistently throughout the economic cycle with a relationship-based model that takes intangibles into consideration.
Lending Criteria
Delivering capital solutions for technology firms with recurring revenues through the cycles with a relationship-based model that takes intangibles into consideration.
Company Profile
- Highly recurring and visible revenue streams
- Sponsor-backed
- Traditional software, technology enabled, data analytics and information services companies
- Own your own IP
- Offer mission-critical solutions
- Hold a prominent position in the market
Financing Offered
- Senior secured revolvers and term loans
- Unitranche facility (first out tranche)
- Agency or participation
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We Get the Deal Done
At PNC Business Credit, “Done Deal” is not a tagline. It’s who we are.
Consistent, creative, reliable capital in all phases of the business cycle delivered by leading dealmakers who are experts in their field. With us, it's more than confidence of execution. It’s a done deal.
$330,000,000
Revolving Line of Credit & Term Loan
Generic & Over-the-Counter Drug Manufacturer
$85,000,000
DIP Revolving Line of Credit
Metals, Services & Supply Chain Solutions Provider
$125,000,000
Exit Revolving Line of Credit
Metals, Services & Supply Chain Solutions Provider
$30,000,000
Revolving Line of Credit
Specialty Chemicals Provider
a portfolio company of
ACON Investments, L.L.C.
Undisclosed
Revolving Line of Credit & Term Loan
Fluid Milk Manufacturing & Distribution
$82,500,000
Revolving Line of Credit & Term Loan
Structural Steel Component Fabricator
a portfolio company of
Brynnwood Partners*
$94,500,000*
Revolving Line of Credit & Term Loan
Beverage Manufacturer & Marketer
a portfolio company of
The Gores Group
$42,500,000*
Revolving Line of Credit & Term Loan
Aerospace Component Maintenance & Repair Provider
C$38,000,000
Revolving Line of Credit
Construction Management Solutions Provider
a portfolio company of
Madison Dearborn Partners
$40,000,000
Recurring Revenue
DNS & Security Solutions Provider
Strattam Capital
C$17,100,000
Revolving Line of Credit & Term Loan
Financial Services Software Solutions Provider
a portfolio company of
Silversmith Capital Partners
Undisclosed
Recurring Revenue
Corporate Learning Management System Provider
a portfolio company of
KPS Capital Partners, LP
$65,000,000
Revolving Line of Credit
Power Conversion & Electrical Power Storage Systems Provider
a portfolio company of
Alpine Investors, LP
Undisclosed
Recurring Revenue
School Business Software Applications Provider
a portfolio company of
TZP Group, LLC
$45,000,000*
Revolving Line of Credit & Term Loan
Professional IT Staffing Services Provider
a portfolio company of
Primary Capital Partners LLP
Undisclosed
Revolving Line of Credit & Term Loan
Specialist Plant Hire
a portfolio company of
Waud Capital Partners
Undisclosed
Recurring Revenue
Electronic Health Records & Practice Management Software
a portfolio company of
The Carlyle Group
$410,000,000*
Revolving Line of Credit & Term Loan
A Workforce Solutions Company
a portfolio company of
Marlin Equity Partners
Undisclosed
Recurring Revenue
Telecom and Mobile Expense Management Software Provider
C$77,500,000
Revolving Line of Credit & Term Loan
Steel Processing Service Center
$55,000,000
Revolving Line of Credit & Term Loan
Full-service Transportation Management Provider
$180,000,000
Revolving Line of Credit
Scrap Metal Recycling
$150,000,000
Revolving Line of Credit
Global Media & Entertainment Provider
a portfolio company of
BlueArc Capital Partners, LLC & Gladstone Investment Corporation
$40,000,000*
Revolving Line of Credit & Term Loan
Bowling Products Producer
a portfolio company of
Insight Equity
$37,000,000*
Revolving Line of Credit & Term Loan
Electronics Manufacturing Service Provider
a portfolio company of
WM Partners, LP
$80,000,000*
Revolving Line of Credit & Term Loan
Nutritional Supplement Manufacturer
$175,000,000
Revolving Line of Credit
Specialty Apparel Retailer
$200,000,000
Revolving Line of Credit
Oilfield Services Provider
$85,000,000
Revolving Line of Credit
Eyecare Services Provider & Retailer
a portfolio company of
One Equity Partners
$80,000,000
Revolving Line of Credit
Products Manufacturer
a portfolio company of
AE Industrial Partners, LLC
$150,000,000
Revolving Line of Credit
Engineering, IT & Staffing Solutions Provider
a portfolio company of
KPS Capital Partners
$225,000,000
Revolving Line of Credit
Golf Equipment Designer & Manufacturer
a portfolio company of
Serent Capital
Undisclosed
Recurring Revenue
Procure-to-Pay Solutions Provider
a portfolio company of
Alpine Investors, LP
Undisclosed
Recurring Revenue
Telecom Market Data & Analytics Provider
a portfolio company of
GI Partners
Undisclosed
Recurring Revenue
Financial Services Software Solutions Provider
Have a deal you would like to profile with one of our leading dealmakers? Contact us to get started »
Our Team
Industry focused dealmakers with leading experience.
Tommy Burkes is the Managing Director of Eastern U.S. Originations for PNC Business Credit’s Technology Finance group.
He is responsible for sourcing, structuring and executing on recurring revenue credit facilities used for buyouts, leveraged recapitalizations and refinancings by enterprise software companies.
Burkes joined PNC Business Credit in 2006, first with roles in Atlanta and Toronto, providing senior debt financing to traditional industries. Prior to PNC, he was a management consultant for Bearingpoint Consulting’s World Class Finance Group, and a senior lender for SouthTrust Bank, NA (now part of Wells Fargo).
Burkes received his B.S. from Louisiana State University.
J.P. Seminario is the Managing Director of Western U.S. Originations for PNC Business Credit’s Technology Finance group.
He is responsible for sourcing, structuring and executing on recurring revenue credit facilities used for buyouts, leveraged recapitalizations and refinancings by enterprise software companies.
Seminario is a founding member of the Technology Finance group and has worked in various roles, including underwriting and originations. Previously, he worked for Wells Fargo Capital Finance’s Technology Group and Ernst & Young, LLP. Seminario’s experience includes over $2.0 billion in financing LBO, M&A, recapitalization and restructuring transactions in the technology space.
He received his B.S. from California State University Northridge and his master’s degree from the University of Notre Dame.
David Mengel is Executive Vice President and Head of PNC Business Credit’s Technology Finance group.
He is responsible for oversight of all new business development and portfolio management for the Technology Finance group nationwide.
Mengel joined PNC in 1998 as Segment Executive for the Energy, Metals & Mining group. He subsequently held a series of leadership positions across PNC, including portfolio management, and was National Head of Originations for Steel City Capital Funding. Prior to joining PNC, Mengel held positions of increasing responsibility for U.S. Steel, Chase Manhattan Bank and Armco, Inc.
Mengel received his B.S. from Lehigh University and his MBA from the University of Pittsburgh.
Important Legal Disclosures & Information
PNC is a registered mark of The PNC Financial Services Group, Inc. ("PNC"). PNC Business Credit is the senior secured lending division of PNC Bank, National Association ("PNC Bank") and its subsidiaries, and is part of PNC. In Canada, the Canadian federally-regulated branch of PNC Bank, PNC Canada Branch provides various bank products and services (including secured lending by PNC Business Credit). Deposits with PNC Bank Canada Branch are not insured by the Canada Deposit Insurance Corporation. In the UK, lending products are provided by PNC Financial Services UK Ltd., which is an indirect wholly-owned subsidiary of PNC Bank. Lending and leasing products and services, as well as certain other banking products and services, require credit approval.
*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured, and second lien loans for sponsored and non-sponsored transactions.
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