PE Firms Purchase Consumer-Friendly Credit Co.

Law360, New York (October 24, 2011, 6:40 PM EDT) -- Private equity firm Rockbridge Growth Equity LLC and subordinated debt provider Falcon Investment Advisors LLC have jointly purchased the payroll-based marketplace Purchasing Power LLC, Rockbridge announced Monday.

The deal was financed by a $127 million senior secured credit facility provided to Purchasing Power through Goldman Sachs Specialty Lending Group LP and Fortress Credit Corp. Some of the credit facility helped purchase stock from existing shareholders, and some will help finance the company's working capital needs, according to a Rockbridge spokesman.

Purchasing Power, headquartered in Atlanta, provides...
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