GREENWICH, CT, April 21, 2016 (GLOBE NEWSWIRE) -- Fifth Street Asset Management Inc. (NASDAQ:FSAM) (“FSAM”) announced today that its affiliate, Fifth Street Management LLC, served as Joint Lead Arranger and Joint Lead Bookrunner for a first lien credit facility to support GTCR’s acquisition of Lytx, Inc. (formerly known as DriveCam). San Diego, CA-based Lytx is the leading provider of video-based safety solutions for commercial and public sector fleets, helping to improve driver behavior and reduce collisions and collision-related expenses. The financing facility included investments from both Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR).
Lytx is the 10th financing that Fifth Street has completed in support of GTCR. Based in Chicago, IL, GTCR is a leading private equity firm focused on investing in growth companies and has deployed over $12 billion in over 200 businesses since its inception.
“We are pleased to support our long-standing partner, GTCR, on the acquisition of Lytx – the leading provider of video telematics solutions that deliver identifiable and significant returns on investment to its customers,” noted Sunny K. Khorana, Managing Director, Head of Sponsor Coverage at Fifth Street, adding, “With industry leading retention rates and highly innovative technology that drives best in class products, Lytx has a proven ability to grow across multiple avenues. We look forward to working with both GTCR and company management over the life of the investment as they continue to execute on strategic initiatives.”
About Fifth Street Asset Management Inc.
Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a nationally recognized credit-focused asset manager. The firm has over $5 billion of assets under management across two publicly-traded business development companies, Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR), as well as multiple private investment vehicles. The Fifth Street platform provides innovative and customized financing solutions to small and mid-sized businesses across the capital structure through complementary investment vehicles and co-investment capabilities. With over an 18-year track record focused on disciplined credit investing across multiple economic cycles, Fifth Street is led by a seasoned management team that has issued billions of dollars in public equity, private capital and public debt securities. Fifth Street's national origination strategy, proven track record and established platform are supported by approximately 65 professionals across locations in Greenwich and Chicago. For more information, please visit fsam.fifthstreetfinance.com.
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $12 billion in over 200 companies. For more information about GTCR, please visit www.gtcr.com.
About Lytx, Inc.
At Lytx® we harness the power of data to change human behavior and help good companies become even better. Our flagship product, Lytx DriveCam™ sets the standard for driver safety in the industries we serve, and our RAIR® Compliance Services helps DOT-regulated fleets comply with safety regulations, complementing the DriveCam® Program. Lytx ActiveVisionSM service helps detect and address distracted and drowsy driving, both in real time and over time. We protect more than 1,400 clients worldwide who drive billions of miles. We enable our clients to realize significant ROI by lowering operating and insurance costs while achieving greater efficiency and compliance. Most of all, we strive to help save lives – on our roads and in our communities, every day. Lytx is privately held and headquartered in San Diego. For more information, visit www.lytx.com, @lytx on Twitter or our YouTube channel.
Forward-Looking Statements
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