Silver Point Leads Financing for Symphony Technology Group’s Acquisition of Wrike
Greenwich, CT, July 11, 2023 -- Silver Point Finance, a subsidiary of Silver Point Capital, L.P., led a Senior Secured financing to support Symphony Technology Group’s (“STG”) acquisition of Wrike, a leader in collaborative work management. Under the terms of the deal, Vista Equity Partners and Elliott Investment Management L.P. will transfer full ownership of Wrike to STG, marking the final chapter in Wrike’s reestablishment as a private company.
Wrike is a powerful work management platform. Built for teams and organizations looking to collaborate, create, and exceed every day, Wrike brings everyone and all work into a single place to remove complexity, increase productivity, and free people up to focus on their most purposeful work. Offering intuitiveness, versatility, and scalability, Wrike enables organizations to grow, optimize, and move fast in a competitive world. More than 20,000 happy customers power their future and come together in Wrike, including Estée Lauder, Hootsuite, Nielsen, Ogilvy, Siemens, and Tiffany & Co. For more information, visit www.wrike.com.
STG is a private equity partner to market-leading companies in data, software, and analytics. The firm brings experience, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market-winning portfolio companies, STG creates sustainable foundations for growth that bring value to existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world-class management teams. STG’s expansive portfolio has consisted of more than 50 global companies. For more information, please visit www.stg.com.
About Silver Point Finance
Silver Point Finance, a subsidiary of Silver Point Capital, L.P., is the firm’s dedicated financing business, providing customized financing solutions to middle-market companies across a broad range of industries. Silver Point Finance provides capital for acquisitions, refinancings, bridge loans, growth capital, balance sheet restructurings and leveraged recapitalizations. Since 2003, Silver Point Finance has deployed over $19 billion in primary originations across 385+ transactions. Silver Point Finance now manages ~$11 billion in investible capital to deploy into its direct lending strategy. For more information on Silver Point Finance, please visit www.silverpointfinance.com.
About Silver Point Capital
Silver Point Capital, L.P. (“Silver Point”) is a registered investment adviser that focuses on global credit investing. Founded in 2002 by Edward A. Mulé and Robert J. O’Shea, Silver Point was designed and built to have the deep resources, expertise and capital needed to invest in the global credit markets. Silver Point’s business model seeks to capture synergies across its platform, build comparative advantages in every area of the Firm, hire and train exceptional people, and establish a culture of teamwork. As of March 2023, Silver Point Capital has 275 employees, including over 90 investment professionals, and $23 billion in investible assets.