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Clearlake and Charlesbank to inject $175m into distressed Symplr. * September 22, 2026 * - 10:34 am Private equity firms Clearlake Capital Group and Charlesbank Capital Partners have agreed to provide around $175m of preferred equity to healthcare software provider Symplr as part of a restructuring designed to shore up the company's finances and push out debt maturities, according to a report by Bloomberg. The report cites unnamed people familiar with the matter as revealing that the sponsors have reached an agreement with several groups of creditors on the proposed recapitalisation and are seeking wider lender support. Under the terms being discussed, Clearlake and Charlesbank will defer interest payments on newly issued junior-ranking debt, helping Symplr preserve cash as it works through its financial challenges. Separately, second-lien lenders are expected to provide $103.5m of additional financing through a first-out second-lien loan. The facility would rank ahead of existing second-lien debt and would be available to other junior-ranking creditors. The restructuring follows months of negotiations between Symplr and its lenders as the company's debt has traded at distressed levels amid broader concerns about the impact of artificial intelligence on the software sector. Symplr's debt has faced particular pressure. Its loans were among the largest markdowns recorded by an Ares private credit fund during the first quarter, while Moody's Ratings downgraded Symplr and its debt further into junk territory in July, citing an increased risk of restructuring. As part of the proposed transaction, existing second-lien lenders would receive a 100-basis-point increase in their coupon. The debt would carry a combination of cash interest and payment-in-kind interest, according to people familiar with the terms. Holders of Symplr's first-lien term loan, which matures in 2027, would also receive a 100-basis-point coupon increase in return for extending the maturity by three years. The revised loan documentation would include stronger protections for participating lenders. Creditors that choose not to take part in the proposed exchange would be pushed to the bottom of Symplr's capital structure and lose certain covenant protections. Symplr's approximately $1.2bn first-lien term loan was recently quoted at about 71.4 cents on the dollar, compared with around 78 cents in early March and 86.5 cents at the beginning of January. Its nearly $290m second-lien term loan, due in 2028, was recently quoted at about 70 cents. Symplr is held through a continuation vehicle containing the healthcare software company as its sole asset, according to a 2022 company announcement. Representatives for Clearlake, Charlesbank and Ares Capital reportedly declined to comment, while Symplr reportedly did not respond to requests for comment.

Symplr Software's private equity backers, Clearlake Capital Group and Charlesbank Capital Partners, have agreed to inject approximately $175 million of preferred equity into the distressed healthcare software provider. The restructuring deal includes multiple debt securities and extended repayment timelines. Second-lien lenders, including Ares Capital Corp., will provide $103.5 million in fresh funding structured as a first-out second-lien loan. Clearlake and Charlesbank have agreed to defer interest payments on new junior-ranking debt to conserve cash. The deal follows months of negotiations after concerns about artificial intelligence's impact hit software companies earlier this year. Symplr's roughly $1.2 billion first-lien term loan recently traded at 71.4 cents on the dollar, down from 86.5 cents in January. Existing lenders will receive 100-basis-point coupon increases in exchange for extending maturities.

symplr, a healthcare operations software provider backed by Clearlake Capital Group and Charlesbank Capital Partners, has appointed Andrew Langford as chief financial officer. Langford brings extensive experience in finance leadership, strategic transformation and mergers and acquisitions. Previously, Langford served as executive vice president at Zelis, overseeing financial strategy, treasury and operational planning. He also spent nearly a decade at Global Payments in senior finance roles, with significant experience in investor relations and growth strategy across the Americas and Europe. As CFO, Langford will oversee financial planning, accounting, treasury, investor relations and M&A functions. He succeeds Tom Fink, who served as interim CFO since early 2026. The appointment comes as symplr scales its investment in AI-powered innovation for healthcare operations.