Triple Point backs Pelican Capital’s investment in Capacitas

Triple Point's Private Credit team has supported Pelican Capital's investment in Capacitas through the provision of a senior loan.

Capacitas, established in 2002, specialises in cloud optimisation consultancy for large corporate clients and companies backed by private equity. The business assists clients in improving the performance, scalability, and cost-efficiency of their cloud operations. Among its clients are Qualtrics, Cegid, JAGGAER, as well as portfolio companies from Silverlake and Cinven. The company reports achieving cost savings that are four times greater compared to conventional optimisation techniques, and it currently generates more than 70% of its revenue from repeat clients.

The recent investment by Pelican Capital was enabled by financing from Triple Point, who were introduced to the opportunity by Altenburg Advisory. Triple Point was selected to participate in the transaction based on its existing relationship with Pelican Capital and its reputation for executing transactions quickly and with certainty.

Deal structure

James Lowe, Relationship Director, Leverage Finance at Triple Point, explained the rationale for Triple Point's involvement in the transaction. He stated:

"We're pleased to support Pelican Capital on another high-quality opportunity. Capacitas is a strong business with a proven track record, clear growth potential and a highly committed leadership team. The structure of this deal reflects strong cash flow and meaningful alignment between stakeholders. We moved quickly to deliver a tailored solution with the certainty our partners expect."

This transaction is part of a series of deals in which Triple Point's Private Credit team has supported businesses that are backed by private equity, as well as sponsor-led acquisitions. The team focuses on providing customised debt finance solutions and aims to connect capital with businesses positioned for growth.

Capacitas market position

Capacitas has established a clear market presence, growing its services for both corporate entities and private equity portfolio companies. Its focus on cloud optimisation has provided demonstrable cost efficiencies for its clients. The business's revenue stream indicates a strong level of client retention, as more than 70% is generated from returning clients, underlining the recurrent value delivered to customers.

Elliot Vickerstaff, Investment Manager at Pelican Capital, commented on the investment and the importance of partnership in deal execution:

"This is a particularly exciting time to be investing in Capacitas. The business has carved out a clear niche in the market, and we believe it's exceptionally well-positioned for the next phase of growth. We're proud to be joining the journey and backing a team with real vision and capability."

"Having the right partner is crucial to getting deals like this done. Triple Point's pragmatic and collaborative approach has made them a valuable partner throughout this transaction, and we're pleased to be working alongside them to support the future of Capacitas."

Transaction background

The arrangement was facilitated with the involvement of Altenburg Advisory, who introduced Triple Point to the transaction. According to Triple Point, their swift process and ability to deliver tailored financing solutions were key factors in the successful completion of the deal.

Both Triple Point and Pelican Capital have highlighted their intent to build on the relationship established during this investment, suggesting further collaboration could follow in future transactions. The companies stress the alignment between financing partners and operational management as an essential factor in supporting growth within businesses such as Capacitas.