Houlihan Lokey Advises Calero Software
Calero Software, a portfolio company of Oak Hill Capital and RS2 Healthcare Partners
Refinancing
Senior Term Loan Revolver
Exclusive Placement Agent
Houlihan Lokey is pleased to announce the successful placement of a senior secured credit facility for Calero Software (Calero), a portfolio company of Oak Hill Capital (Oak Hill) and RS2 Healthcare Partners (formerly Riverside Partners). The financing consisted of a revolver and a senior term loan. The transaction closed on October 20, 2026.
Headquartered in Rochester, New York, Calero is a leading provider of contracted managed services and software that enables blue-chip enterprises to manage their complex, recurring, and growing technology spend across the telecom, mobility, SaaS, cloud, and AI spend categories. The company serves as the system of record for technology expense management (TEM) at Fortune 500 enterprises and a broad base of middle-market customers, with more than $25 billion of technology spend and 5 million mobile devices under management across 100+ countries. Calero’s single integrated platform ingests and normalizes invoices, inventory, and contract data from thousands of carriers and vendors, delivering visibility, control, and optimization to drive meaningful cost savings and mitigation.
The Houlihan Lokey Capital Solutions Group served as the exclusive placement agent to Calero, assisting the company in arranging, structuring, and negotiating the financing. The Calero transaction highlights Houlihan Lokey’s ability to run a competitive financing process and deliver a tailored refinancing solution despite broader market uncertainty for software credits.