Daily News: June 6, 2012

Monroe Credit Advisors Closes $15MM Revolver for Midwest Client

Monroe Credit Advisors announced the closing of a $15 million senior secured revolving credit facility for its client, Entertainment Publications, LLC, a provider of discount and promotion products, primarily the Entertainment coupon book. The asset-based lending group of a Michigan bank provided the loan. Proceeds of the loan refinance existing debt and provides for ongoing working capital and general corporate purposes.

Christopher Gentry, managing director and a co-founder of Monroe Credit Advisors, said, “Working in tandem with the company’s finance team and its sponsor, we were able to expedite closing on the transaction, which was a critical aspect of the assignment. We’re pleased that our client is now partnered with a lender that is supportive of the company’s exciting business plan.”

The Troy, MI-based company was acquired in 2008 by MH Equity Partners, a private equity firm based in Indianapolis with funding provided by John Menard of the Menard’s home improvement chain and entrepreneur and philanthropist, Steve Hilbert. Russ Mayerfeld, a partner of the firm said, “We hired Monroe Credit Advisors to manage an expedited process to secure new working capital financing that met a critical deadline in our selling season. While certainty of execution was our priority, Monroe Credit Advisors delivered a number of financing alternatives from which to choose at attractive pricing and terms.”

The Chicago-based advisory firm is executing more engagements with private equity sponsors, particularly with their existing portfolio companies that require timely refinancing. The firm is also focusing on working with sponsors on new acquisitions. Mark Gertzof, managing partner and a co-founder of the firm said, “We think the Entertainment Publications transaction is an excellent example of how our team can bring specialized resources and relationships to a private equity sponsor’s portfolio company 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.