Daily News: March 27, 2014

Monroe Credit Advisors Places $18MM Facility for Asure Software

Monroe Credit Advisors announced that it placed an $18 million senior secured credit facility for its client, Asure Software, a provider of workplace management software solutions. Proceeds of the facility refinanced the existing debt of the company.

The facility included a $15 million term loan, $3 million revolver and an additional uncommitted $10 million term loan facility for future acquisitions.

Brent Krambeck, managing director and partner of Monroe Credit Advisors, said, “We appreciate the opportunity to have worked with the Asure team again and we are pleased that we delivered another successful solution that met management’s objectives. For this transaction, we structured and arranged a financing that lowered the company’s overall cost of capital and provided capacity for growth. The company is positioned well with a great lending partner to achieve its short and long term goals.”