TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Selecting a Technology Vendor: 3 Questions to Ask
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
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Paper Loan Files: Does Your Bank Know the True Cost?
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October 22, 2024
Source: Mountain Ridge Capital
FRISCO, Texas, Oct. 21, 2024 / -- Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $25 million senior secured credit facility to a U.S.-based contract manufacturer of industrial parts and tools designed to serve the aerospace and defense and industrial sectors. The MRC facility refinanced the debt of another lender; the proceeds will be used to assist the Borrower’s management team in reaching its growth and operational objectives. The enhanced credit package from MRC provides additional liquidity and structural flexibility which will aid the Company in managing its cash needs.
MRC’s Bill Drmacich stated, “A longstanding relationship with the equity owners of the company facilitated the transaction while a strong management team sealed the deal for Mountain Ridge. Although the needs of the Company changed during diligence period, we were flexible with our structure. We look forward to a mutually beneficial relationship with this Borrower as the company continues to grow and strengthen its market position.”
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
Craig Winslow
Craig.Winslow@mountainridgecap.com
SOURCE Mountain Ridge Capital