Daily News: May 8, 2013

Salus Capital Closes $35MM Facility for Manus Holdings

Salus Capital Partners announced it provided a $35 million senior secured credit facility to Manus Holdings. Manus, a portfolio company of Versa Capital Management, is a manufacturer of industrial products that are sold both directly and indirectly to local, state and federal government agencies in the U.S., as well as private entities.

The company acts as a holding company that owns the following three operating subsidiaries: Republic Storage Systems, Holliston and Brite-Line Technologies. The financing will be used to retire existing indebtedness and to provide working capital for general corporate purposes.

“The Manus credit facility adds a leading U.S. manufacturing company with an active and supportive equity sponsor to the Salus Capital portfolio,” said Andrew H. Moser, president of Salus Capital. “Salus is committed in customizing debt capital solutions to diversified manufacturers that have a vast product selection with broad distribution capabilities. We look forward to working with Manus and its equity sponsor in executing against their strategic initiatives.”

Versa Capital, based in Philadelphia, is a private equity investment firm.