Monroe Capital, the Chicago-based mid-market corporate lender, has provided a $24.5 million senior secured credit facility to an online women’s apparel company. The loan will support the acquisition of the clothing retailer by SPK Capital, Monroe announced today (2 October). The lender acted as the sole lead arranger and administrative agent in the transaction.
Monroe declined to name the speciality womenswear firm, which is based in Southwestern US.
The transaction is Monroe Capital’s latest retail-focused financing, following its $47 million unitranche backing for aPriori Capital Partners and Goode Partners’ acquisition of Las Vegas luxury eyewear retailer, Robert Marc Eyewear, which was announced two weeks ago.
Monroe, which is led by chief executive Ted Koenig, is a provider of senior and junior debt and equity co-investments to mid-market companies in the US and Canada. Its investments include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments.
SPK Capital is a private equity firm that focuses on small- and medium-sized businesses with attractive long-term growth and profitability characteristics. It has offices in Los Angeles and Dallas.