Mountain Ridge Capital (MRC) closed a $15 million senior secured credit facility supporting the acquisition of an apparel retailer operating a chain of 70+ stores across the Northeast and Midwest. The facility refinanced the borrower’s existing senior debt and funded a portion of the acquisition, providing the company with meaningfully greater availability than its prior credit facility. MRC’s revolving facility, collateralized by credit card receivables and inventory, was structured to maximize availability and provide the company with the liquidity needed to support the integration and its next phase of growth.
“Mountain Ridge was happy to support the ownership transition of this 50-year-old, founder operated, retailer with a flexible working capital financing that helped facilitate the underlying transaction,” Dan Williams, managing director of MRC, said.
