Monroe Capital has appointed Mark Sturrock to lead its origination practice in Canada. Sturrock is also opening a new Toronto office for the Chicago-headquartered lender.
Sturrock was formerly a managing director and Canadian head of originations in the Toronto office of Salus Capital Partners, an asset-based lender based in Needham Heights, Massachusetts. Before joining Salus in 2012, he was a senior director and team leader at Canadian Imperial Bank of Commerce for two years and spent three years as a senior vice-president at Wells Fargo Financial.
“The expansion of our product offering in Canada is consistent with our plan to deepen our presence in the middle market throughout North America. Mark will be responsible for leading the firm’s Canadian lending efforts in private equity sponsored and non-sponsored transactions,” said Ted Koenig, president and chief executive of Monroe Capital.
Koenig also soon plans to announce new hires in the retail origination space, which will be a new industry vertical for Monroe. The firm presently invests via four verticals: technology, healthcare, media and ESOP (employee stock ownership plan).
Monroe Capital provides senior and junior debt and equity co-investments to North American mid-market companies. Investment types include unitranche financings, cash flow and enterprise value-based loans, asset-based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments.