Daily News: July 18, 2012

Monroe Credit Advisors Provides Term Loan to Asure Software


Monroe Credit Advisors announced the closing of a $14.5 million senior secured unitranche term loan for its client, Asure Software, Inc., a provider of workplace management software. Proceeds of the loan were used to finance the acquisition of PeopleCube, a software company that provides solutions that help customers manage their facilities and minimize real estate, meeting services, travel and energy costs.

In addition, a portion of the facility was used to pay off certain existing higher priced debt. The credit facility also included an option to be upsized by an additional $5 million in a delayed draw term loan that the company can use to fund future growth initiatives.

Brent Krambeck, managing director of Monroe Credit Advisors, said, “Our team was engaged to quickly structure and raise the debt facility which was used to fund this important acquisition. We’re pleased that we were able to partner our client with a lender that was able to understand the synergies in the business and support the company’s growth and acquisition strategies.”

The PeopleCube acquisition further enhances Asure’s product offerings and triples the company’s client base. Patrick Goepel, CEO and president said, “Monroe Credit Advisors did a great job raising the debt financing for our acquisition of PeopleCube. While our operations and finance team focused on the due diligence process and integration plan between the companies, the team of bankers at Monroe Credit Advisors worked to secure the best financing available to us. Their process partnered us with a financing source that was able to successfully close on the acquisition and provide additional capacity to help us with our near and long term goals.”

The Chicago-based advisory firm is executing more engagements with companies that are seeking a debt solution for the first time. Mark Gertzof, managing partner and a co-founder of the firm said, “We think the Asure transaction is an excellent example of how our team can bring debt market expertise and experience to a particular financing opportunity. Our structuring guidance and debt placement process led to a successful transaction that was completed in an efficient and cost effective manner.”

Monroe Credit Advisors, the investment banking affiliate of middle-market lender, Monroe Capital, provides debt capital solutions to middle market companies and their investors through strategies built for today’s dynamic credit markets.