AB Private Credit Investors (“AB-PCI”) served as Sole Lead Arranger, Sole Bookrunner and Administrative Agent for a unitranche credit facility to support H.I.G. Growth Partners’ acquisition of myKaarma. AB-PCI’s experience and expertise in application software facilitated a flexible financing solution that will provide significant capacity for growth.
Built upon an industry-leading communication and payment platform, myKaarma delivers good karma for vehicle owners and dealers alike by making the service experience better for all. With more than $11 Billion in payments processed, 230 million text messages transmitted and more than 2.5 million videos recorded, customers have realized a 30% lift in repair-order dollars when using the latest solutions. myKaarma is an advanced end-to-end platform with scheduling, communications, payment, pickup and delivery, video multi-point inspection, business-development center solutions, and insightful reporting.
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $48 billion of equity capital under management. H.I.G. Growth Partners seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries, but focuses on certain high-growth sectors where it has extensive in-house expertise, such as technology, healthcare, internet and media, consumer products, and technology-enabled financial and business services.