Monroe Capital has funded a $25 million unitranche credit facility to support the growth of Cyalume Technology Holdings.
Florida-based Cyalume designs and manufactures tactical products such as chemical lights and ammunition and explosives for use in training exercises for military and law enforcement agencies, as well as certain safety markets. Cyalume is a supplier to US and NATO-country militaries and operates manufacturing facilities in the US and France. Through its subsidiary, Cyalume Specialty Products, the company also manufactures specialty chemical components.
“By locking in flexible, long-term debt, we have given ourselves an ample runway to focus on several new opportunities to grow our business,” Zivi Nedivi, president and chief executive of Cyalume, said in a statement. “Over the last several months, we worked with the Monroe team to create a capital structure that aligns well with our near and long-term strategy to continue building upon Cyalume’s improved financial performance.”
Chicago-based Monroe is a provider of senior and junior debt and equity co-investments to mid-market companies in the US and Canada. 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.