Svoboda Capital Partners LLC Announces Major Investment in Databank Acquisition Corp
1/6/2011
Svoboda Press Release
CHICAGO, IL – January 6, 2011 – Svoboda Capital Partners LLC (“SC”) today announced it has partnered with executive management and Merion Investment Partners (“Merion”) to invest in Databank IMX, LLC (“Databank” or the “Company”). This transaction is the sixth investment for Svoboda, Collins Fund II L.P. The Structured Finance Group of Fifth Third Bank provided a senior debt facility and Merion also provided subordinated debt to complete the transaction.
Databank is a leading full service provider of outsourced imaging and information solutions, including document scanning, indexing, physical and electronic document storage, and software to manage information. Founded in 1991, Databank has grown significantly during the past 20 years into a national platform with seven full service production centers located in Maryland, Massachusetts, Indiana, Texas, Louisiana and California. Across this network, Databank serves the Healthcare, Education, Oil/Gas, and Government sectors, among others. “Databank is a premier provider of best-in-class imaging and document management solutions,” said Rick Harpster, Principal at Svoboda Capital Partners. “We are excited about our partnership with management and pursuing Databank’s next phase of growth. This investment reflects Svoboda Capital’s continuing focus on partnering with top-tier management teams to invest in and help build leading companies in our target sectors – business services, value-added distribution, and consumer.”
“We are delighted to partner with Svoboda Capital – the firm is a great fit for Databank and our culture,” said Dick Aschman, Chief Executive Officer of Databank. “SC’s business service experience aligns with Databank’s expertise and our partnership will help us accelerate growth and add value for our team and shareholders.”
About Databank IMX LLC
For more information, please visit www.databankimx.com
About Svoboda Capital Partners LLC
Svoboda Capital Partners LLC is a Chicago-based private equity firm with over $250 million of capital under management. Founded in 1998, SC identifies, invests in and helps build excellent businesses in its targeted business niches: value-added distribution, consumer products and business services. SC typically makes investments of $10 to $25 million per company as the sole investor or in partnership with other private equity firms. For more information, please visit www.svoco.com
About Merion Investment Partners
Merion Investment Partners is a lower middle-market mezzanine capital fund licensed as a Small Business Investment Company (“SBIC”). With over $200 million under management, Merion invests mezzanine debt and equity in companies to support organic growth, acquisitions, buyouts and generational transfers of ownership. Merion provides junior capital to private equity led buyouts as well as to entrepreneurs for growth capital and acquisitions. Preferred industries include healthcare, technology-enabled business services, information technology, and specialty manufacturing. For more information, please visit www.merionpartners.com.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $112 billion in assets and operates 16 affiliates with 1,311 full-service Banking Centers, including 103 Bank Mart locations. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2010, had $190 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ National Global Select Market under the symbol “FITB”.