Citizens served as sole lead arranger on a $70 million asset-based revolving credit facility for Chicago-based Stonegate Capital Holdings to support its acquisition by SG Credit Partners.
Stonegate is a provider of asset-based credit facilities, typically ranging from $2 million to $10 million, to companies in both the United States and Canada. Stonegate will use proceeds from the deal with Citizens to refinance existing debt, fund a portion of the purchase price and provide working capital going forward. Following the deal, Stonegate will continue to operate independently as a new division of SG Credit Partners.
