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MidCap Financial Closes $35mm Senior Revolving Credit Facility to Arc
February 13, 2024
Source: MidCap Financial
BETHESDA, MD, February 14, 2024 – MidCap Financial, a leading commercial finance company focused on middle-market transactions, today announced it has provided a $35mm senior revolving credit facility to Arc International North American Holdings, Inc. (“Arc” or “Company”). The MidCap Financial credit facility is part of a successful refinancing of the Company’s capital structure which will help support the Company’s continued growth. Proceeds from the credit facility were used to refinance the Company’s existing revolving credit facility and will support Arc’s ongoing working capital needs.
About the Company
Arc International North American Holdings, Inc. is a subsidiary of The Arc Holdings (“Parent Co.”), which is headquartered in Arques, France. The Company specializes in the design and manufacturing of glass tableware. Arc sells glassware under the registered trademarks Luminarc, Cristal d’Arques, Arcoroc and Chef & Sommelier. The Company also designs products for the private label and B2B markets.
About MidCap Financial
MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of December 31, 2023, MidCap Financial provides administrative or other services for over $50 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $651 billion as of December 31, 2023, in credit, private equity and real assets funds.
For more information about MidCap Financial, please visit http://www.midcapfinancial.com.
For more information about Apollo, please visit http://www.apollo.com.
*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV
Contact: MidCap Financial Services, LLC
Garrett Fletcher, Product Head – ABL
301-841-6439
