Monroe Capital Provides $27 Million for Collaborative Neuroscience Network, Inc. ESOP Transaction
Chicago, IL, January 22, 2013
Monroe Capital LLC today announced the funding of a $27 million unitranche facility to support the sale of Collaborative Neuroscience Network, Inc. (“CNS Network”) to a 100% Employee Stock Ownership Plan owned corporation.
This is the first transaction completed by Monroe Capital’s newly-formed national ESOP lending practice. ESOPs offer corporate and individual level tax advantages that are not typically available in traditional third party sales. In today’s rising tax rate environment, Monroe Capital anticipates that demand will be robust for similarly structured ESOP transactions in 2013 and beyond.
Based in Garden Grove, CA, CNS Network is a leading clinical trial research provider, assisting pharmaceutical companies and contract research organizations with the various phases of drug development. The company provides services that manage various aspects of clinical trials for pharmaceutical companies testing potential compounds and drugs for FDA approval.
Monroe Credit Advisors LLC served as the exclusive syndiation agent to Monroe Capital LLC.
About Monroe Capital
Monroe Capital LLC is a leading provider of senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments for both ESOP and non-ESOP transactions. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. Monroe is committed to being a value-added and user-friendly partner to owners, senior management and private equity sponsors. To learn more about Monroe Capital LLC, visit www.monroecap.com.