Monroe Capital tosses senior credit into salad company

The Chicago-based lender provided $12 million in financing to back private equity sponsored Saladworks.

Monroe Capital has closed on a $12 million senior secured credit facility to Saladworks, a company backed by private equity firm Centre Lane Partners. Chicago-based Monroe was the sole lead arranger and administrative agent on the transaction, recapitalizing the company and its growth initiatives, Monroe said in a statement.

Based in Conshohocken, Pennsylvania, Saladworks is a large fresh-tossed salad franchise. It operates in over 100 locations in the US and abroad. Saladworks provides customers with health-focused, customizable salad options.

Centre Lane Partners is a New York-based private investment firm that makes debt and equity control and non-control investments in North American mid-market companies. The firm targets companies with revenues between $20 million and $500 million that have leading market positions and sustainable competitive advantages in their niches. It invests $5 million to $50 million per transaction across a variety of industries.

Monroe Capital provides senior and junior debt and equity co-investments to mid-market companies in the US and Canada. Its invests in unitranche, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. The firm is in the process of raising $600 million for its second private credit fund. Monroe manages private closed-end funds, a publicly-traded BDC and separate accounts.