Monroe Backs Frontenac’s Buy

Monroe Capital was the sole lead arranger and administrative agent on the funding of a senior credit facility to support Frontenac’s acquisition of TPC Training and its sister company JADE Learning from Renovus Capital Partners.

TPC Training is a provider of maintenance, repair, and operator skills training. The company has more than 300 industrial skills and safety course titles to choose from and more than 2,000 instructor-led seminars. Using online, classroom, virtual, and on-the-job methods the company has assisted more than 40,000 clients to train over 3.5 million skilled workers.

Companies utilize TPC’s programs to train industrial workers to maintain and operate complex machinery, observe proper safety precautions and comply with government regulations. TPC is headquartered near Chicago in Buffalo Grove, IL (www.tpctraining.com).

Jade Learning is a provider of electrical code, electrical safety, and security alarm continuing education services. The company’s services allow electricians to renew their operating licenses online and it also provides an online product that is used by journeyman and master electricians to prepare for certification tests. The company was founded in 1996 and is headquartered in Raleigh, NC (www.jadelearning.com).

Monroe provides senior and junior debt and equity co-investments to middle market and lower middle market companies based in the US and Canada. The firm is led by Ted Koenig, President and CEO; Michael Egan, EVP & Chief Credit Officer; and Thomas Aronson, Managing Director, Head of Originations. Monroe has approximately 90 professionals including 50 investment professionals averaging over 17 of direct investing experience.

Monroe has $5.2 billion of committed and managed capital under management. In 2017, the firm financed 77 direct lending investment transactions, involving over $2 billion of new capital. Monroe was founded in 2004 and is headquartered in Chicago with additional offices in New York, Los Angeles, San Francisco, Atlanta, Boston, and Dallas (www.monroecap.com).

Frontenac, the buyer of TPC and Jade, invests in lower middle-market businesses that operate primarily in the food, industrial, and services industries. The firm was founded in 1971 and is headquartered in Chicago (www.frontenac.com).

© 2018 Private Equity Professional | April 10, 2018

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