Monroe Capital was the sole lead arranger and administrative agent on the funding of a senior term loan to support the acquisition of The Worth Collection, Ltd. by New Water Capital. The Worth Collection had been a portfolio company of L Catterton since 2006.
Monroe Capital provides senior and junior debt and equity co-investments to middle-market companies based in the US and Canada. 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).
The Worth Collection is a direct-to-consumer women’s fashion apparel company that operates the luxury brand “Worth New York” and the contemporary brand “W by Worth”. The company designs, supplies, and distributes its products through multiple channels including its stylist network, by-appointment showrooms, online and retail outlets. The Worth Collection was founded by Caroline Davis, Richard Kaplan and Jay Rosenberg in 1991. Today the company is led by CEO Dave DeFeo and is headquartered in New York (www.worthnewyork.com).
“We are impressed with the strength and stability of the Worth Collection brands and by the fierce loyalty exhibited by its extensive customer base. We are excited to partner with Dave, Jay and the entire Worth team, and look forward to assisting the company to achieve its strategic initiatives,” said John Disa, a Partner at New Water Capital.
New Water invests in lower middle market companies with revenues between $30 and $300 million. Sectors of interest include consumer products, retail, and industrial manufacturing & services. New Water closed its first private equity fund at the hard cap of $406 million in July 2015. The firm was founded in September 2014 and is based in Boca Raton (www.newwatercap.com).
Rothschild (www.rothschild.com) was the financial advisor to The Worth Collection on this transaction.
© 2016 Private Equity Professional • 10-12-16
