Praesidian Capital ("Praesidian" or "the Firm"), a leading provider of
mezzanine capital for small and mid-sized companies, reported today that
it partnered with Plexus Capital ("Plexus") to provide $16.5 million of
first-lien debt to support the acquisition by Fusion (OTCQB: FSNN) of
NBS for approximately $19.6 million. Praesidian and Plexus each provided
$8.25 million in new funds.
Fusion is a New York-based provider of Unified Communications and
advanced cloud services to businesses and carriers worldwide. NBS is a
Wayne, N.J.-based provider of Unified Communications, hosted voice,
Internet, data products and cloud services for customers nationwide.
"Our acquisition of NBS allows us to accelerate the company's growth
both organically and through targeted acquisitions," stated Matthew
Rosen, CEO of Fusion. "We were gratified by Praesidian's and Plexus's
confidence and support through the transaction and believe that the
significant synergies we can expect from combining the NBS and Fusion
Corporate Services segments into one under the NBS brand will assist us
in implementing our growth strategy and creating meaningful shareholder
According to Glenn C. Harrison, Partner at Praesidian, "We see great
synergy in these two businesses joining forces. There is a great
opportunity for the combined company to cross-sell and up-sell a
complementary portfolio of advanced cloud services to its expanding
customer base. We believe that the leadership of its experienced
management team is a valuable element in the company's strategic growth."
Mike Becker, Partner with Plexus Capital, further noted that "We are
pleased to team up with the strong management teams at Fusion and NBS,
as well as Praesidian on this deal. We have every confidence it will be
a successful venture for all concerned."
About Fusion. Fusion is a global provider of Unified
Communications and cloud solutions to businesses and carriers worldwide.
Fusion's advanced, high availability service platform enables the
integration of leading edge products and services in the cloud,
including voice, data, managed network services, cloud computing,
storage and security. Its solutions are customized to serve the unique
needs of specialized vertical markets, with a strong focus on
HIPAA-compliant solutions for the healthcare industry. Fusion's
innovative yet proven cloud-based solutions lower customers' cost of
ownership and deliver new levels of security, flexibility, scalability
and speed of deployment. For more information, please visit www.fusiontel.com.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by
providing private debt capital. With a focus on its core competency in
mezzanine financing, Praesidian invests in established, historically
profitable companies often in connection with a management/leveraged
buyout, recapitalization or refinancing. Based in New York City,
Praesidian manages more than $700 million in committed capital. For more
information, visit www.praesidian.com.
About Plexus Capital
Plexus Capital focuses on investments and partnerships with middle
market businesses that need capital for growth. With offices in
Charlotte and Raleigh, N.C., the Plexus team has $255 million under
management and more than 50 investments completed since 1995.
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