Audax Private Debt Provides Financing to Support Lightyear Capital’s Acquisition of PayByPhone
NEW YORK - Audax Private Debt announced that, as Administrative Agent and Lead Arranger, it provided a senior secured credit facility to support Lightyear Capital in its acquisition of PayByPhone, a global leader in mobile parking payments.
Founded in 2000 and headquartered in Vancouver, Canada, PayByPhone provides digital parking payments and parking management software to more than 1,300 cities and operators across the US, Canada, England, France, Germany, and Switzerland. More than 110 million drivers worldwide have downloaded the PayByPhone app to simplify their parking and vehicle payments.
Based in New York, Audax Private Debt is a leading debt capital partner for North American middle market companies. Since its inception in 2000, the firm has invested $52 billion in support of over 295 private equity sponsors. Audax Private Debt provides tailored financing solutions for its clients through a comprehensive range of offerings that includes first lien, stretch senior, unitranche, second lien, and subordinated debt, as well as equity co-investments. Audax Private Debt is an experienced and trusted partner with senior leadership averaging 35 years in private credit and 23 years working together at the firm through multiple economic cycles.
