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BMO’s Asset-Based Lending Group Serves as Administrative Agent and Sole Underwriter and Bookrunner on a $250 Million Senior Secured ABL Revolver Facility
September 28, 2022
By BMO
BMO’s Asset-Based Lending group serves as Administrative Agent and Sole Underwriter and Bookrunner on a $250 million Senior Secured ABL Revolver facility to support the Centre Lane Partners led merger of its portfolio company Hollander Sleep & Décor with Keeco, LLC.
BMO, a leading provider of asset-based finance solutions to the retail, apparel, and consumer products industries, closed as Administrative Agent, Sole Underwriter and Bookrunner on a $250 million senior secured credit facility in support of the merger of Keeco, LLC and Centre Lane Partners’ portfolio company Hollander Sleep & Décor. The ABL facility refinanced the Companies’ existing credit facilities, partially financed the acquisition of Keeco and will provide working capital financing to the combined company.
About Keeco & Hollander
Keeco & Hollander operate in the Bedding and Home market sectors. The merger created the #1 platform in the domestic bedding products industry.
Keeco specializes in fashion bedding, utility bedding, and functional window curtains and holds a dominant market share within each category. Keeco sells into every distribution channel and major retailer in the U.S. Hollander is a leading product and innovation platform in the sector. The Company manufactures and distributes branded and private label products including comforters, pillows, mattress pads, cushions, furniture covers, slipcovers, mattress protection, and shower curtains.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.07 trillion as of July 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
For questions, please contact Michael Ganann, Head of Asset-Based Lending Retail Finance at 617-960-2355 or Michael.Ganann@bmo.com.
