MidCap Financial Closes Senior Secured Credit Facility to Rand McNally

BETHESDA, MD, September 14, 2021 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a senior secured credit facility, comprising an asset-based revolving line of credit and term loan to Rand McNally (“Company”). Proceeds from the MidCap credit facility will be used as growth capital and to provide for the business’ ongoing working capital needs.

About the Company

Founded in 1856 and headquartered in Skokie, IL, Rand McNally transforms commercial and personal travel with revolutionary mobility technology. Leveraging its fast-growing telematics and fleet management expertise, along with its award-winning commercial navigation, Rand McNally provides innovative solutions for drivers, shippers, carriers, logistics, and supply chain customers.

About the Sponsor

Based in Los Angeles, CA and Boise, ID, TELEO Capital Management, LLC (“TELEO”) is an operationally-focused private equity firm targeting companies in the software and technology, healthcare IT, business services, and industrial sectors. TELEO acquired Rand McNally in October of 2020 providing management with strategic thought, operational resources and capital base to perform and execute their business plans. 

About MidCap Financial             

MidCap Financial is a middle market-focused, specialty finance firm that provides senior debt solutions to businesses across all industries throughout North America. The firm's years of experience, strong balance sheet, and flexibility make it a lender of choice for companies across all stages of growth and complexity. MidCap Financial's debt solutions focus in six areas:

• Asset Based Lending - Asset-based revolving loans and term loans collateralized by accounts receivable, inventory and other tangible and intangible assets;

• Leverage Lending - Leverage based loans to companies backed by private equity sponsors across all industries including healthcare, technology, and business services.

• Life Sciences Lending - Loans to VC-backed and public pharmaceutical, biotech, medical device, diagnostics, healthcare IT, enterprise software and hardware companies;

• Real Estate Lending - Loans to developers and operators of commercial, residential and healthcare real estate;

• Lender Finance - Term loans and revolving credit facilities to consumer and commercial finance lenders;

• Franchise Finance - Loans to franchisees operating in the quick service restaurant and other industries.

MidCap Financial refers to MidCap FinCo Designated Activity Company, a designated activity company limited by shares incorporated under the laws of Ireland, and its applicable subsidiaries.  MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc.  MidCap Financial Services, LLC provides sourcing, due diligence and portfolio management services to MidCap Financial.  Loans made or arranged by MidCap Financial Trust pursuant to a California Finance Lenders Law license.

For more information about MidCap Financial, please visit http://www.midcapfinancial.com.

Contact:

MidCap Financial Services, LLC
Garrett Fletcher, Product Head – ABL
301-841-6439
gfletcher@midcapfinancial.com