Monroe Capital Provides Credit Facility to Forbes Media
Monroe Capital announced the funding of a unitranche credit facility to Forbes Media. Monroe Capital’s facility was used to refinance existing debt and provide growth capital for Forbes Media.
Forbes Media LLC, publisher of Forbes magazine and forbes.com, is an authoritative source of news and information on business, investing, technology, entrepreneurship, leadership and affluent lifestyles. Forbes.com, a business website, currently reaches 30 million monthly unique visitors, and Forbes magazine, Forbes Asia and Forbes Europe attract a global audience of more than 5 million readers. The company also publishes ForbesLife magazine, as well as 23 licensed international local-language editions around the world. Forbes Media LLC is owned by the Forbes family and Elevation Partners.
Thomas C. Aronson, managing director of Monroe Capital, said, “We are excited to have partnered with Forbes, one of the premier global brands and media companies. We look forward to working with the management team as they continue to execute their business plan.”
Mike Perlis, president and CEO of Forbes Media, said, “Forbes Media has been successful in placing authoritative journalism at the center of the social media experience. Building on the positive momentum of our business, the company, the Forbes family and Elevation Partners are pleased to work with Monroe Capital to put a financing structure in place that allows us to carry forward our growth plans through 2012 and into the future.”
Monroe Capital is a private investment firm providing senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada.