Monroe Credit Advisors has closed a $23.5 million senior secured credit facility for Footprint Retail Services, a portfolio company of Chicago Growth Partners. The new facility was used to refinance the company’s existing debt and provide for general working capital needs.
“Monroe Credit Advisors delivered a strong financing solution for our portfolio company Footprint Retail Services. We knew that they had many contacts and could generate competitive terms but they exceeded our expectations when it came to managing issues, shepherding the process with multiple constituents and driving the team towards a successful closing. We are very pleased to have hired them to help with this transaction,” said Jeff Farrero, a Principal at Chicago Growth Partners.
Monroe Credit Advisors continues to execute engagements with financial sponsors that are seeking to outsource the debt placement process. “This transaction is another great example of how financial sponsors can optimize their financing needs by partnering with our team. Our broad network of relationships, debt capital markets expertise and efficient placement process works to deliver successful solutions on a timely basis and in a cost effective manner,” said Brent Krambeck, Managing Director of Monroe Credit Advisors.
Footprint Retail Services provides installation, merchandising, logistics and related marketing services for major retailers and brand marketers. Services include the routing, warehousing, assembly, installation and merchandising of displays and fixtures in national retail chains. Footprint is headquartered in Lisle, IL (www.footprintretailservices.com).
“We appreciate the opportunity to have worked with Chicago Growth Partners and the Footprint management team on this transaction. We’re proud that we were able to introduce the ideal lending partners that can help the company execute its growth strategy going forward,” said Mr. Krambeck.
Monroe Credit Advisors, an affiliate of Monroe Capital, helps middle market companies raise and structure debt capital and also provides advisory services for companies seeking guidance with their existing lending relationships or navigating through challenging credit issues. Customers include privately owned, sponsor-backed and publicly traded middle market firms. Monroe Credit Advisors has offices in Chicago and New York (www.monroecredit.com).
Chicago Growth Partners invests from $15 million to $75 million of equity in companies with revenues from $15 million to $150 million. The firm targets four primary sectors: education; healthcare products and services; tech-enabled services; and industrial technology. The firm is currently investing its second fund, Chicago Growth Partners II, with $500 million of capital commitments. Chicago Growth Partners is based in Chicago (www.cgp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-17-13