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Sterling National Bank Supports Versa Capital’s Acquisition of Alex Apparel Group

July 10, 2019, 08:45 AM
Filed Under: Apparel

Sterling National Bank's Asset Based Lending Group provided senior secured credit facilities totaling $35,000,000 to finance the acquisition of Alex Apparel Group, Inc. by affiliates of Versa Capital Management, LLC.

Established in 1989, Alex Evenings, a division of Alex, is a market leader in producing classic eveningwear dresses and separates in the moderate to better price range with a focus on fit and comfort. Versa is a Philadelphia based private equity firm that invests in a wide range of industries.

This transaction was originated by John Rossi, a Managing Director located in Sterling’s Boston office.

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