
Stellus Provides Unitranche Financing to Recognize
Direct lender Stellus Capital Management announced its affiliates acted as administrative agents and provided senior debt financing and an equity co-investment for Recognize Partners’ investment in 2X LLC, a digital B2B marketing-as-a-service (MaaS) provider.
Founded in 2017 by three former B2B CMOs who pioneered MaaS, 2X is a new operating model designed to bring scale to revenue and marketing leaders. The company’s model covers marketing operations, MarTech management, demand creation programs, digital marketing, account-based marketing, analytics and creative services.
“Stellus was a constructive partner, providing a flexible capital solution to support our investment in a truly differentiated business. We look forward to continuing our strong relationship with Stellus going forward,” said Mike Grady, Partner at Recognize.
Formed within the D.E. Shaw Group in 2004, Stellus specializes in senior secured loans in the lower middle market. The firm spun out in 2012 and today manages $2.9 billion across various investment vehicles including closed-end institutional funds, a public BDC and a perpetual non-traded private BDC.
