Fund Managers

Monroe backs IT merger

The Chicago-based lending firm is setting up a $14.3 million credit facility to support the merger of two IT companies.

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Monroe Capital has agree a $14.3 million credit facility designed to support the merger of Venture Technologies with Information Systems Consulting. The two companies are simultaneously acquiring Strategic Allied Technologies. The merger is also supported by New York-based private equity firm FlatWorld Capital. The firm specialises in funding and advising mid-market IT firms. 

Venture Technologies is based in Ridgeland, Mississippi, and is an IT service provider that delivers infrastructure, collaboration solutions and cloud based services to private and public sector organizations. Venture Technologies also owns and operates certified date centres across the US from which it provides a suite of cloud services to thousands of domestic and international customers.  

Monroe Capital provides senior and junior debt and equity co-investments to mid-market companies in the U.S. and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Â