TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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November 14, 2023
Source: Mountain Ridge Capital
FRISCO, Texas, Nov. 13, 2023 /PRNewswire/ -- Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $15 million senior secured credit facility to ICU Eyewear, Inc (wholly owned subsidiary of 1847 Holdings, LLC). ICU is a west coast-based designer and marketer of eyewear and eyewear accessories. MRC's facility was used to refinance the debt of a non-bank lender and will be used going forward to achieve company growth, operational objectives and potential acquisitions. The additional liquidity, structural flexibility and creative solutions by MRC, proved paramount in meeting the Company’s current and future cashflow needs.
Craig Winslow, Chief Executive Officer at MRC stated “We are pleased to begin or partnership with ICU. We developed a unique financing package that was creative to improve the Company’s liquidity at a lower price point. We look forward to our long-standing relationship with ICU.”
ThinkEquity served as investment bank/advisor on this transaction.
About Mountain Ridge Capital
Mountain Ridge Capital provides highly customized asset-based revolvers and term loans to middle-market businesses and utilizes an industry agnostic approach to consider advancing against all types of collateral. Mountain Ridge targets lending to privately-held, family-owned and private equity-backed businesses requiring liquidity to support business transitions, including turnarounds, restructuring, acquisitions and changes in ownership or control. The Mountain Ridge platform was created in partnership with Arena Investors, LP (www.arenaco.com) in response to the growing demand for non-bank debt financing, which can be secured without unnecessarily slow and cumbersome bank committees, extended due diligence cycles, or lengthy legal processes. MRC offers borrowers quick turnaround times and has a team of experts that understand all types of collateral, not just traditional A/R and inventory, which results in higher advance rates and more overall liquidity as compared to many traditional bank products. See www.mountainridgecap.com for more information.
Contact:
Mountain Ridge Capital
Craig Winslow
Craig.Winslow@mountainridgecap.com
SOURCE Mountain Ridge Capital
