Mountain Ridge Capital (MRC) closed a $25 million senior secured credit facility to a U.S.-based contract manufacturer of industrial parts and tools designed to serve the aerospace and defense and industrial sectors. The MRC facility refinanced the debt of another lender; the proceeds will be used to assist the borrower’s management team in reaching its growth and operational objectives. The credit package from MRC provides additional liquidity and structural flexibility which will aid the company in managing its cash needs.
“A longstanding relationship with the equity owners of the company facilitated the transaction while a strong management team sealed the deal for Mountain Ridge,” Bill Drmacich of MRC said. “Although the needs of the company changed during diligence period, we were flexible with our structure. We look forward to a mutually beneficial relationship with this borrower as the company continues to grow and strengthen its market position.”
