This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Praesidian Capital Leads New Debt To Support Fusion’s Acquisition Of NBS

Praesidian Capital (“Praesidian” or “the Firm”), a leading provider of mezzanine capital for small and mid-sized companies, reported today that it partnered with Plexus Capital (“Plexus”) to provide $16.5 million of first-lien debt to support the acquisition by Fusion (OTCQB: FSNN) of NBS for approximately $19.6 million. Praesidian and Plexus each provided $8.25 million in new funds.

Fusion is a New York-based provider of Unified Communications and advanced cloud services to businesses and carriers worldwide. NBS is a Wayne, N.J.-based provider of Unified Communications, hosted voice, Internet, data products and cloud services for customers nationwide.

“Our acquisition of NBS allows us to accelerate the company’s growth both organically and through targeted acquisitions,” stated Matthew Rosen, CEO of Fusion. “We were gratified by Praesidian’s and Plexus’s confidence and support through the transaction and believe that the significant synergies we can expect from combining the NBS and Fusion Corporate Services segments into one under the NBS brand will assist us in implementing our growth strategy and creating meaningful shareholder value.”

According to Glenn C. Harrison, Partner at Praesidian, “We see great synergy in these two businesses joining forces. There is a great opportunity for the combined company to cross-sell and up-sell a complementary portfolio of advanced cloud services to its expanding customer base. We believe that the leadership of its experienced management team is a valuable element in the company’s strategic growth.”

Mike Becker, Partner with Plexus Capital, further noted that “We are pleased to team up with the strong management teams at Fusion and NBS, as well as Praesidian on this deal. We have every confidence it will be a successful venture for all concerned.”

About Fusion. Fusion is a global provider of Unified Communications and cloud solutions to businesses and carriers worldwide. Fusion's advanced, high availability service platform enables the integration of leading edge products and services in the cloud, including voice, data, managed network services, cloud computing, storage and security. Its solutions are customized to serve the unique needs of specialized vertical markets, with a strong focus on HIPAA-compliant solutions for the healthcare industry. Fusion's innovative yet proven cloud-based solutions lower customers' cost of ownership and deliver new levels of security, flexibility, scalability and speed of deployment. For more information, please visit www.fusiontel.com.

About Praesidian Capital

Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City , Praesidian manages more than $700 million in committed capital. For more information, visit www.praesidian.com.

About Plexus Capital

Plexus Capital focuses on investments and partnerships with middle market businesses that need capital for growth. With offices in Charlotte and Raleigh, N.C., the Plexus team has $255 million under management and more than 50 investments completed since 1995.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs