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MidCap Financial Provides a $60 Million Senior Secured Credit Facility to Celadon Group, Inc.
August 6, 2019
By MidCap Financial
MidCap Financial today announced it has provided a $60 million senior revolving credit facility to Celadon Group, Inc. ("Celadon"), a North American transportation company that provides full-truckload freight services across the United States, Canada, and Mexico. The MidCap credit facility, in conjunction with Celadon's new term loans, refinanced the company's prior credit facility to facilitate the company's long-term growth and provide for the company's working capital needs.
About the Company
Celadon Group, Inc. (www.celadongroup.com), through its subsidiaries, provides long haul, regional, local, dedicated, intermodal, temperature-protect, and expedited freight service across the United States, Canada, and Mexico.
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 and Europe. 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 five areas:
• Asset Based Lending – asset-based revolving loans and term loans collateralized by accounts receivable, inventory and other tangible and intangible assets;
• Lender Finance – term loans and revolving credit facilities to consumer and commercial finance lenders;
• Leveraged Lending – cash flow based loans to companies backed by by private equity sponsors;
• Life Sciences Lending – loans to VC-backed and public pharmaceutical, biotech and medical device companies;
• Real Estate Lending – loans to developers and operators of commercial, residential and healthcare real estate.
Assistant Vice President
MidCap Financial refers to MidCap FinCo Designated Activity Company, a private limited company domiciled in Ireland, and its subsidiaries, including MidCap Financial Services, LLC. MidCap Financial Services, LLC employs all personnel and provides sourcing, due diligence and portfolio management services to MidCap FinCo Designated Activity Company pursuant to a services agreement. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management (NYSE: APO), pursuant to an investment management agreement between Apollo Capital Management, L.P. and MidCap FinCo Designated Activity Company. Apollo Global Management is one of the world's leading alternative investment managers with approximately $303 billion of assets under management (as of March 31, 2019), providing market leading industry expertise, market reach and financing synergies. Loans to CA residents issued under California Financing Law License No. 60DBO 45424, 60DBO 45427, 60DBO 45431, 60DBO 45435, 60DBO 45439, 60DBO 49531 or 603I389