TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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March 18, 2024
Source: Mountain Ridge Capital
FRISCO, Texas, Feb. 29, 2024 -- Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $30 million senior secured credit facility for a regional distributor focused on fast food and fast casual dining. The MRC facility refinanced the debt of another lender and will be utilized to manage through the onboarding of new customers and to execute on management’s growth and operational objectives, capitalizing on the enhanced liquidity and structural flexibility MRC has been known for providing.
Jay Fabian, Managing Director at MRC stated, “MRC is excited to bring this client aboard. As we first evaluated the opportunity, it was clear that a more flexible capital provider was essential to the ongoing success of the business. We look forward to providing the collaborative partnership that ownership and management were seeking and helping the business execute on new customer growth.”
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
Jay Fabian
jay.fabian@mountainridgecap.com
Bill Drmacich – Managing Director Originations – Southeast
Bill.Drmacich@MountainRidgeCap.com
Daniel Williams – Managing Director Business Development – Northeast
Daniel.Williams@MountainRidgeCap.com
Michael Carlson – Director Business Development Rockies and West Coast
Michael.Carlson@MountainRidgeCap.com
Trevor Courtney – VP Originations Great Plains and Southwest
Trevor.Courtney@MountainRidgeCap.com
SOURCE Mountain Ridge Capital
