Monroe Credit Places ABL, Term Loan for Smith Mountain
Monroe Credit Advisors announced it placed $33 million in credit facilities for Smith Mountain Industries, a portfolio company of private equity sponsor Strength Capital Partners, comprised of a $15 million ABL provided by a bank and an $18 million term loan provided by a commercial finance company.
Christopher Gentry, managing director and partner of Monroe Credit Advisors, said, “Strength Capital has a great portfolio company with a terrific management team, which is always integral in attracting competitive financing. We are pleased that we were able to deliver a solution that meets the company’s immediate financing needs with good lending partners that can also help the company execute on its future growth plans.”
Mike Bergeron, managing partner of Strength Capital said, “Monroe ran a market-wide process that resulted in a positive outcome for our company. Their process was efficient and provided us with the resources necessary to successfully refinance our senior debt.”
Smith Mountain Industries manufactures and sells innovative home fragrance products, including candles (e.g., WoodWick and RibbonWick), reed diffusers, car scents and candle accessories.