LBC Credit Partners, a provider of financing solutions to middle market companies, provided a $56.0 million senior secured term loan to support the acquisition of Klaussner Home Furnishings by Monomoy Capital Partners.
LBC Credit Partners served as Administrative Agent and Sole Lender for the senior secured term loan.
Headquartered in North Carolina, Klaussner manufactures and distributes furniture and furniture components in the U.S. The Company supplies upholstery, casegoods, bedding and outdoor furniture to large home furnishings retailers, regional retailers and online retailers. Klaussner's industry-leading manufacturing capabilities and speedy delivery times have created a unique business model in a crowded furniture sector.
Founded in 2005, Monomoy Capital Partners is a private investment firm with $1.5 billion in committed capital in a family of private equity funds. They make investments in middle market businesses that can benefit from operational and financial improvement. Since Monomoy Capital Partners was founded, they have acquired over 40 middle market companies from a variety of sellers, including family owners, public companies, lenders and financial sponsors, and in a wide range of special situations, such as asset sales, equity sales and corporate carve-outs.