Monroe Capital has expanded its industry reach with the launch of a new retail and consumer products lending group. Leading the new effort will be Andy Moser and Marc Price who join Monroe from Salus Capital Partners. Mr. Moser and Mr. Price will be based in Monroe’s Boston office.
“We are excited to establish this new group focusing on retail and consumer products asset based lending. This new finance group complements our existing healthcare, technology, media, and ESOP focused verticals,” said Ted Koenig, President & CEO of Monroe Capital.
Prior to joining Monroe, Mr. Moser was the President and CEO of Salus Capital Partners which he co-founded in 2011. Salus Capital – a Boston-based portfolio company of the Harbinger Group – is a provider of senior secured asset-based loans to the small and middle-market across a variety of industries. Like Mr. Moser, Mr. Price joins Monroe Capital from Salus where he was the Executive Vice President and a co-founder. Both Mr. Moser and Mr. Price exited Salus in April 2015 after the firm incurred losses from loans made to RadioShack which filed for bankruptcy protection in February 2015.
“Andy and Marc are both seasoned professionals. Their talents, combined with Monroe’s leading reputation, deep and long term capital base, and credit focused infrastructure, will create the ‘go to’ financing partner for companies and private equity sponsors alike in the retail and consumer products space.”
This is the third staff addition for Monroe from Salus in the past two weeks. In late October the firm hired Mark Sturrock – a Senior Managing Director at Salus – to lead its origination efforts and coverage of both private equity sponsored and non-sponsored transactions in Canada. Mr. Sturrock is based in Toronto.
Monroe Capital provides senior and junior debt and equity co-investments to middle-market companies. The firm was founded in 2004 and maintains offices in Chicago, Atlanta, Boston, Charlotte, Dallas, Los Angeles, New York and San Francisco (www.monroecap.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-5-15