Huntington Capital, a San Diego private equity firm, said it provided a mezzanine loan to Gen-E, a San Clemente-based software business. Terms and amounts of the loan weren’t disclosed.
The loan will be used to help Gen-E’s growth and expand its Resolve automation software platform that allows customers to automate manual IT-related processes, Huntington Capital said.
Gen-E customers include Fortune 1000 companies with large, complex IT infrastructures, Huntington said.
Huntington Capital said it generally invests in growth oriented companies that generate between $10 million to $75 million annually. Target industries are IT/ software, business services, manufacturing, consumer products, health care, aerospace, and defense. Investments are structured as equity, buyout or acquisition financing and usually range from $2 million to $7 million.
According to the company, Huntington Capital has about $183 million in capital under management.