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Monroe Places $23.5MM for Footprint Retail, Marquette in Deal for $10MM

April 17, 2013, 07:50 AM
Filed Under: Specialty Industries

Monroe Credit Advisors announced the closing of a $23.5 million in senior secured credit facilities for its client, Footprint Retail Services, a Chicago Growth Partners portfolio company. Footprint provides installation, merchandising, logistics and related marketing services for major retailers and brand marketers. The credit facilities were used to refinance the Company's existing debt and provide for general working capital needs.

Brent Krambeck, managing director of Monroe Credit Advisors, said, "We appreciate the opportunity to have worked with Chicago Growth Partners and the Footprint management team on this transaction. We're proud that we were able to introduce the ideal lending partners that can help the Company execute its growth strategy going forward."

Jeff Farrero, a principal at Chicago Growth Partners said, "Monroe Credit Advisors delivered a strong financing solution for our portfolio company Footprint Retail Services. We knew that they had many contacts and could generate competitive terms but they exceeded our expectations when it came to managing issues, shepherding the process with multiple constituents and driving the team towards a successful closing. We are very pleased to have hired them to help with this transaction."

The Chicago-based advisory firm continues to execute engagements with financial sponsors that are seeking to outsource the debt placement process. Krambeck adds, "This transaction is another great example of how financial sponsors can optimize their financing needs by partnering with our team. Our broad network of relationships, debt capital markets expertise and efficient placement process works to deliver successful solutions on a timely basis and in a cost effective manner."

In a separate release, Marquette Business Credit announced it recently provided Footprint Retail Services with a $10 million revolving line of credit.

“Marquette took the time to understand the unique aspects of our business and very quickly structured a financing solution tailored to those needs.  Additionally, they were able to close the deal in a compressed time frame.” stated Farrero.

Marquette Business Credit provides asset-based loans to middle market U.S. based companies with credit requirements from $1-15 million. On a national basis, to a wide variety of industries, the lender provides secured lines of credit against accounts receivable, inventory, machinery and equipment, real estate, along with cash flow supported term loans. 

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