Candlewood Partners is pleased to announce its role as the exclusive financial advisor to Cambridge Capital’s portfolio company, STAT Recovery, in the refinancing and upsizing of their existing capital structure.
STAT Recovery (“STAT”) is a machine learning-based invoice audit software platform helping retail suppliers optimize revenue by reducing improper deductions and compliance fines from large retailers. The Company recently completed a debt capital raise that refinances its existing capital structure and provides additional capital to support future growth.
The transaction includes a fully funded first lien term loan and a revolving credit facility provided by a leading global commercial bank. Proceeds were used to repay and upsize STAT’s existing secured credit facility, with a material improvement in cost of capital, providing greater flexibility for the Company going forward.
Candlewood supported the Company and Sponsor throughout the entirety of the process, including facilitating lender due diligence, structuring of the transaction, and negotiation of financing-related documentation.
“We enjoyed the opportunity to work with a great sponsor and a unique portfolio company in STAT” said Natan Milgrom, Managing Director of Candlewood Partners. “The STAT management team consistently delivers direct bottom-line value to its clients, while Cambridge has leveraged its deep supply chain network and expertise to help the Company quickly scale into a multi-platform, fast-growing industry leader.”
Matt Smalley, Principal at Cambridge Capital, said, “Candlewood Partners was a great partner on the STAT refinancing. As a small specialist private equity firm, Cambridge received significant leverage from the Candlewood team and multiple compelling offers from their superb marketing process. Candlewood’s anticipation of questions and potential issues led to a record closing time.”
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ABOUT STAT RECOVERY
Headquartered in Bentonville, AR, STAT Recovery is a machine learning-based invoice audit software platform helping retail suppliers optimize revenue by reducing improper deductions and compliance fines from large retailers. STAT has audited over $300 billion in retail transactions for the largest retail suppliers in the world and has the highest recovery rate in the industry, as well as the most comprehensive claims avoidance program. With a wealth of industry experience and advanced software solutions, STAT offers a unique approach backed by proprietary intellectual property and a scalable delivery model. STAT consistently achieves exceptional financial outcomes for its clients by optimizing recovery processes and instilling best practices to improve the overall supplier-retailer relationship.
ABOUT CAMBRIDGE CAPITAL
Cambridge Capital is an investment firm focused on the supply chain sector. The firm provides private equity to finance the expansion, recapitalization, or acquisition of growth companies in transportation, logistics and supply chain technology. Cambridge’s philosophy is to invest in companies where its operating expertise and in-depth supply chain knowledge can help portfolio companies achieve outstanding value.
ABOUT CANDLEWOOD PARTNERS
Candlewood Partners is a Cleveland, New York, and South Florida-based boutique investment bank and advisory firm. Since 2001, Candlewood has supported the needs of middle market companies worldwide, successfully tackling complex engagements that others cannot.
Candlewood Partners, LLC
Established 2001
