Mountain Ridge Capital closed a $25 million senior secured credit facility for a U.S.-based designer and marketer of fitness equipment. The facility refinanced the debt of another lender, and the borrower will use the proceeds to reach its growth and operational objectives. The enhanced credit package from Mountain Ridge Capital provides additional liquidity and structural flexibility, which will aid the company in managing its cash needs.
“We approached the borrower’s management team from a unique perspective and worked with the company through the diligence period and as needs changed, we were flexible with our structure,” Bill Drmacich, managing director at Mountain Ridge Capital, said. “We look forward to a mutually beneficial relationship with this borrower as the company continues to grow and strengthen its market position.”
