Monroe Capital has provided a $78.5 million senior secured credit facility to support the buyout of Escort, a maker of radar detectors, by Monomoy Capital Partners. Escort was a portfolio company of Falconhead Capital.
“Monroe Capital was able to structure a flexible senior credit facility to support the Escort acquisition in its entirety. We very much appreciate their ability to dedicate the resources to move quickly and close this transaction in a timely, hassle-free manner,” said Justin Hillenbrand, Partner of Monomoy Capital Partners.
Escort is a designer, manufacturer and distributor of highway radar and laser detectors. Escort manufactures more than 20 radar and laser-related products and sells them domestically and internationally under the Escort and Beltronics brands. The company, with manufacturing facilities in West Chester, OH and Mississauga, Ontario, distributes product though major retail outlets such as Best Buy, Radio Shack, and Pep Boys, as well as through its online store. The company has more than 200 employees and is headquartered in West Chester, OH (www.escortradar.com).
Monroe Capital is a specialty finance company providing senior and junior debt and equity co-investments to middle-market companies. Investment types include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is headquartered in Chicago with offices in San Francisco and Atlanta (www.monroecap.com).
Monomoy Capital Partners makes control investments in middle market businesses with $50 million to $500 million in annual sales. Sectors of interest include manufacturing, distribution, consumer product and foodservice industries. The firm has $700 million in assets under management and is headquartered in New York (www.mcpfunds.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-9-13