Background

  • Livingbridge - a leading mid-market private equity firm - acquired RealVNC Limited (RealVNC) in August 2021
  • Founded in the UK, RealVNC provides encrypted remote desktop access software to both individual and commercial users
  • RealVNC operates across 160 countries with clients including industry leaders such as Disney, and is licensed by leading global tech companies, such as Google and Intel
  • RealVNC has a proven track record of generating strong cash flows, consistently demonstrating its profitability

Process

  • DC Advisory (DC) was appointed to advise on the debt financing for RealVNC 
  • Livingbridge sought to raise annual recurring revenue (ARR) based financing of $30M
  • DC advised on interactions with potential debt providers and led the commercial negotiations with the mandated lender, ensuring an optimal package was delivered

Outcome

  • DC secured an attractively priced and flexible debt package to support the business' growth plans following completion
  • This transaction further exemplifies DC's expertise in recurring revenue based financing