March 2023 by Finacity
Finacity Corporation, a White Oak Global Advisors Company, (“Finacity”) announced that it has successfully facilitated a EUR 75 million receivables securitization program for Sweden-based MGI – Media and Games Invest SE (“MGI”). The transaction allows for a senior tranche funded by a German based bank, as well as an investment from Finacity Asset Management in the intermediate subordinated loan to achieve off-balance sheet treatment. The transaction includes trade receivables originated by certain subsidiaries of MGI in the United States of America and Germany. Finacity acted as the structuring agent providing structuring and execution support and is responsible for ongoing program administration and reporting.
Paul Echt, MGI’s Chief Financial Officer, stated: “With the transformation from a pure-play games company into an advertising software platform, MGI has invested over the years into a growing portfolio of receivables with Fortune 500 companies. Using a state-of-the-art securitization program, the Company has increased its cash conversion, reduced working capital investments, further diversified its financing sources, and substantially reduced its cost of capital. The securitization program is another milestone for MGI and perfectly fits the financing needs of a profitable fast-growing advertising software company with a growing receivables portfolio.”
About Media and Games Invest
Media and Games Invest SE (“MGI”) is an advertising software platform with access to first party data from own games content. MGI’s main operational presence is in North America and Europe. The company combines organic growth with value-generating synergetic acquisitions, which has demonstrated continuous strong profitable growth. Next to strong organic growth, the MGI Group has successfully acquired more than 35 companies and assets in the past 10 years. The acquired assets and companies have been integrated and amongst others cloud technology is actively used to achieve efficiency gains and competitive advantages.
About Finacity, a White Oak Global Advisors Company
Finacity, a White Oak Global Advisors Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $150 billion. With resources in the USA, Europe, Latin America, and Asia, Finacity conducts business throughout the world with obligors in 175 countries. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing, and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.
For more information on this transaction, please contact:
FINACITY CORPORATION
Joao Valente
Tel: +1-(203) 428-3536
Email: [email protected]