Daily News: May 1, 2012

Monroe Capital Says Demand for Unitranche Financing Increases


In a press release, Monroe Capital announced that its first quarter was characterized by strong growth and expansion in its lending portfolio. While traditional banks continued to tighten their lending activity amid volatile public markets, Monroe Capital remained fully committed to fulfilling the growth capital needs of lower middle market and mid-sized U.S. and Canadian companies.

The company said it experienced strong demand for its range of senior debt, junior credit and unitranche financing products from leading private equity sponsors and business owners. Its notable deal highlights in the quarter included a $21 million financing for Benton-Georgia, $25.5 million for Thermal Solutions Manufacturing, $37.1 million for LAI International and $43.25 million for the acquisition of R. Cushman & Associates by Fabco Automotive Corporation Partners, a portfolio company of Wynnchurch Capital.

“Our robust first quarter performance demonstrates the strong interest that private equity sponsors and middle market companies have shown in our customized credit one-stop solutions as traditional bank loans and other sources of funding continue to be challenging to close,” said Ted Koenig, president and chief executive officer of Monroe Capital. “Monroe Capital continues to provide attractively-priced financing options that support the growth objectives and job creation efforts of America’s small and mid-sized businesses.”