Monroe Capital has provided a unitranche credit facility and equity co-investment to support the recapitalization of PLAYTIME by Geneva Glen Capital.
“Monroe Capital was able to complete the financing of our recapitalization in less than three weeks, start to finish. Their ability to understand our investment thesis and the growth potential of our investment was critical in completing our acquisition in an expedited time frame,” said Adam Schecter, Managing Director of Geneva Glen Capital.
PLAYTIME is a provider of interactive healthy play areas and playground equipment for children involved in indoor, outdoor and water play. The company markets, designs, manufactures and installs custom soft sculpted play areas in many market segments including shopping centers, restaurants, airports, stadiums, childcare centers, healthcare centers, fitness centers, churches, resorts, recreation centers, water parks, and museums. Founded in 2001, PLAYTIME has completed thousands of installations in all 50 states and 20 countries. The company is based in Englewood, CO (www.experienceplaytime.com).
“We very much appreciated the confidence Geneva Glen Capital had in Monroe Capital to finance this recapitalization of a family-owned and operated business. We strived very hard to be responsive and fund within a very short time period,” said Theodore Koenig, President and Chief Executive Officer of Monroe Capital.
Monroe Capital is a specialty finance company providing senior and junior debt to middle-market companies. The firm specializes in originating, structuring and providing one-stop financings. Investment types include senior and junior secured debt as well as bridge loans, acquisition facilities, mezzanine or last-out secured loans and equity co-investments. Monroe Capital is based in Chicago (www.monroecap.com).
Geneva Glen will invest up to $40 million of equity per transaction in US and Canadian based lower middle-market companies that have EBITDAs between $3 million and $20 million and enterprise values less than $100 million. Industries of interest include: business and consumer services; consumer products and food; environmental services; for-profit education and training; healthcare; niche industrial manufacturing; publishing, media and information services; specialty insurance and value-added distribution. The firm is based in Chicago (www.genevaglencapital.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-11-12
