Monroe Credit Advisors (MCA) placed $13.25 million in senior credit facilities supporting LongWater Opportunities’ acquisition and subsequent merger of two domestic sock manufacturers, Standard Merchandising (SMC) and Fox River Mills (FRM).

Pennsauken, NJ-based SMC designs, manufactures and distributes several lines of branded and private label hosiery products, specializing in luxury women’s products and athletic and novelty socks.

Osage, IW-based FRM produces knitted technical socks and hand-wear for the outdoor, athletic and casual markets.

MCA acted as the exclusive financial advisor to LongWater and its management team in the placement of $13.25 million of revolving and term loan facilities on behalf of the combined company. Proceeds from the financing were used to consummate the acquisition and subsequent merger of SMC and FRM, while also refinancing certain short-term seller and bridge notes.

Ryan Deegan, director of business development for MCA, said, “This transaction is an excellent example of how private equity clients utilize our team as an outsourced resource to structure a debt facility, identify an appropriate audience of potential investors and prepare detailed marketing materials aimed at generating significant optionality for a financing, all while managing the complexities of a capital raising process.”

Dallas-based LongWater Opportunities is an operationally-focused private equity firm that targets control buyout equity investments in lower middle market U.S.-based manufacturing companies in partnership with family owner-operators and entrepreneurs.