Monroe provides credit facility to private label swimwear marketer
21 Dec '06
1 min read
Monroe Capital LLC announced the funding of a new $40,625,000 senior credit facility for a specialty apparel company for which Monroe acted as sole arranger and agent. Proceeds of the new credit facility were used to finance the acquisition of the company by private equity firm, Swander Pace Capital.
The specialty apparel company is a premier designer, manufacturer and marketer of designer and private label swimwear. The company sells its products through a broad array of channels, including major department stores, specialty retailers, swimwear boutiques, international distributors, catalog vendors and the Internet.
Michael J. Egan, Executive Vice President of Monroe Capital, said, “We very much appreciate the ability to finance a quality company as well as add value to a successful private equity firm like Swander Pace in a buyout financing transaction. We look forward to being a strong financial partner for this company for years to come.”
Monroe Capital is a specialty finance company and one of the most active providers of junior secured and senior debt to middle-market companies in amounts typically ranging from $3 million to $50 million.