Colbeck Capital Management provides strategic capital to companies during periods of transition when traditional sources of capital are less accessible. Colbeck Capital has financed over $3 billion in strategic loans to companies in the middle market. One example is the firm’s relationship with Rimini Street.
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About Rimini Street
Rimini Street is a Russell 2000 company that provides enterprise software support to companies worldwide. An official Salesforce partner, Rimini is an alternative to traditional vendor support for Oracle, SAP, IBM, and Microsoft platforms. They provide direct software support, in addition to tax, legal, and location-specific regulatory support.
Colbeck Capital’s Initial Investment
Rimini closed a $125 million financing led by Colbeck Capital. The capital provided Rimini with liquidity for litigation and additional working capital to expand its platform support offerings globally.
“We have watched Rimini Street lead a multibillion-dollar global market opportunity for independent enterprise software maintenance with their vision, industry leadership, and impressive execution and growth,” Colbeck Capital Co-Founder Jason Colodne said, following the investment. “Rimini Street delivers high-value service with a strong reputation for quality support, and client satisfaction. This financing package will help the company more fully capitalize on the accelerating demand for their enterprise software support solutions around the world.”
Colbeck Capital continued to work with Rimini Street for two years to guide the business after its first investment in the company through several capital market transactions culminating in Rimini merging with a special purpose acquisition company and becoming publicly listed trading on NASDAQ as RMNI.
Refinancing
Colbeck Capital continued to work with the company by analyzing strategic opportunities and identifying next-stage capital providers including several potential refinancing partners. Since Colbeck Capital Management exited its investment, Rimini Street continued to execute its business plan. Rimini Street Inc. grew over the next three years, even during the height of the COVID pandemic. This culminated in Rimini securing a $90 million commercial bank financing that was used to refinance it’s capital structure.
About Colbeck Capital Management
Colbeck Capital Management is a strategic lender that partners with companies during periods of transition, providing creative capital solutions to meet their evolving needs. Founded in 2009 by Jason Colodne and Jason Beckman, Colbeck Capital has offices in New York City and Los Angeles. To learn more about Colbeck Capital, visit www.colbeck.com
