Hero Digital nets $175M credit for sponsor-to-sponsor LBO

Hero Digital LLC received a $175 million senior secured credit facility backing a buyout of the company by AEA Investors, market sources said. MidCap Financial was administrative agent, lead arranger and lead bookrunner, market sources said.

The investment will support new offerings and technology, as well as the expansion into new markets, the companies said in a Nov. 18 statement.

CI Capital Partners, which acquired the company in 2016, has exited the business, according to a Nov. 18 company statement. Under CI Capital's ownership, the company completed five add-on acquisitions.

Hero Digital is a customer experience and marketing company.