Monroe Capital has funded a $31 million senior credit facility to support the acquisition of Intelius by private equity investment firm HIG Capital. Intelius recently received a senior loan of the same size from Prospect Capital, as PDI previously reported.
The two US lenders co-arranged the senior debt financing, which totalled $62 million, said Ted Koenig, Monroe’s chief executive. The loan has a four- to five-year tenor. Koenig declined to comment on the interest rate, though sources previously told PDI it could be priced in the 8-10 percent range.
Based in Bellevue, Washington, Intelius provides information about individuals and predictive analytics that can help identify connections to other people and places. The privately-held company has been in business since 2003 and sold 50 million reports.
Monroe has worked on two other senior debt deals since the Intelius financing closed last week. Both were in connection with private equity acquisitions. Although Koenig couldn’t disclose the loan size, one of the loans was made to fitness company Pure Barre. The other went to Architectural Granite & Marble in conjunction with an undisclosed stake that Trive Capital, a Dallas-based mid-market private equity firm, was taking in the company.
Monroe is a provider of senior and junior debt and equity co-investments to mid-market companies in the US 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.
The firm has about $2.4 billion in assets under management. Headquartered in Chicago, it has additional offices in New York, Los Angeles, San Francisco, Atlanta, Boston, Charlotte and Dallas.