Mountain Ridge Capital Provides $24 Million Credit Facility to National Fashion Apparel Distributor
April 15, 2024
Source: Mountain Ridge
FRISCO, Texas, April 15, 2024 /PRNewswire/ -- Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $24 million senior secured credit facility to national fashion apparel distributor. The MRC facility refinanced the debt of another lender and will be utilized to manage through working capital cyclicality and support new business growth. The tailored MRC credit facility provides the requisite liquidity and structural flexibility that both management and ownership were seeking.
MRC’s Jay Fabian stated, “We are delighted to have welcomed this new borrower to our portfolio. Our collaboration with the management team during both the facility structuring and underwriting process led to a great outcome for all parties, and what we anticipate will be a fruitful ongoing partnership.”
About Mountain Ridge Capital
Mountain Ridge Capital provides highly customized asset-based revolvers and term loans to middle-market businesses and utilizes an industry agnostic approach to consider advancing against all types of collateral. Mountain Ridge targets lending to privately-held, family-owned and private equity-backed businesses requiring liquidity to support business transitions, including turnarounds, restructuring, acquisitions and changes in ownership or control. The Mountain Ridge platform was created in partnership with Arena Investors, LP (www.arenaco.com) in response to the growing demand for non-bank debt financing, which can be secured without unnecessarily slow and cumbersome bank committees, extended due diligence cycles, or lengthy legal processes. MRC offers borrowers quick turnaround times and has a team of experts that understand all types of collateral, not just traditional A/R and inventory, which results in higher advance rates and more overall liquidity as compared to many traditional bank products. See www.mountainridgecap.com for more information.
Contact:
Mountain Ridge Capital
Jay Fabian
Jay.Fabian@mountainridgecap.com
SOURCE Mountain Ridge Capital