Monroe Capital Participates in New Credit Facility to Citizens of Humanity, LLC
Chicago, IL, March 9, 2006
Monroe Capital LLC announced the funding together with CapitalSource LLC as agent and other co-lenders of a $75 million senior secured credit facility for the benefit of Citizens of Humanity, LLC. Citizens of Humanity, LLC obtained the new credit facility in connection with the acquisition of the company’s stock by Boston-based private equity investment firm, Berkshire Partners LLC.
Citizens of Humanity, LLC, based in Huntington Park, CA, is a leading designer and distributor of premium denim apparel. The company was founded by Jerome Dahan, co-founder and original designer of 7 For All Mankind and former head designer at Lucky Brands. Citizens’ customers include high-end department stores, including Nordstrom, Bloomingdale’s, Saks Fifth Avenue, Macy’s West, Neiman Marcus, Barneys New York, and several upscale specialty retailers.
Monroe Capital is a specialty finance company devoted to providing innovative capital to middle-market businesses. Monroe Capital specializes in originating, structuring and providing customized financing to corporate, real estate, media and communication, and asset-based borrowers based in the U.S. and Canada in amounts of $3 million to $40 million, with an ability to agent and syndicate larger transactions. These investments include senior and junior secured debt as well as bridge loans to companies in need of immediate access to capital; flexible acquisition facilities for acquirers of opportunistic assets; mezzanine or last-out second loans that stretch a company’s debt capacity; acquisitions of distressed debt; and equity co-investments. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. To learn more about Monroe Capital, visit www.monroecap.com.