Monroe Capital Provides Funding to Conbraco Industries, Inc.
Chicago, IL, May 4, 2006
Monroe Capital LLC announced the completion and funding of a $65 million senior secured and junior term loan credit facility for the benefit of Conbraco Industries, Inc. Monroe Capital acted as Lead Arranger and Syndication Agent for the junior term loan facility and as a Co-Lender under the senior secured loan. The credit facility was used to effect a recapitalization, refinance existing debt and provide ongoing working capital.
Glenn Mosack, President of Conbraco Industries, Inc., said, “Monroe Capital provided the exact financing solution we needed. Their willingness to tailor their facility to our needs was key for us. We appreciate their taking the time to understand our business and our financing needs.”.
Conbraco is a manufacturer of brass and stainless steel valves, actuators, water gauges, back flow preventers, safety valves, and other similar products. The company produces the leading line of ball valves under the brand name “Apollo” which is recognized as the industry standard. Conbraco is based in Mathews, NC, and has two plants and a distribution center in Pageland, SC as well as another plant in Conway, SC. .
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.