FRISCO, Texas, Oct. 6, 2023 /PRNewswire/ -- Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $30 million senior secured credit facility for a Midwest-based designer and manufacturer of footwear/slippers/hosiery.  MRC's facility was used to refinance the debt of a competing nonbank lender and will be used going forward to achieve company growth objectives and manage the ebbs and flows of a seasonal industry.  MRC's structural flexibility and the time taken to understand the underlying business were key differentiators as compared to the prior lender's structure.

Jay Fabian, Managing Director at MRC stated, "Partnering with a local family-owned business to provide the flexibility it needs to thrive is an ideal outcome for MRC.  The ability to provide tailored financing structures that suit the unique needs of our borrowers will only become more crucial going forward in what is a very competitive financing market.  We look forward to a fruitful partnership with the company."

Fort Dearborn Partners 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 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. 

SOURCE Mountain Ridge Capital