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Mountain Ridge Capital Provides $30MM Total Credit Facility for Footwear Designer, Manufacturer

October 09, 2023, 07:47 AM
Filed Under: Apparel

Mountain Ridge Capital ("MRC") closed a $30 million senior secured credit facility for a Midwest-based designer and manufacturer of footwear/slippers/hosiery. MRC's facility was used to refinance the debt of a competing nonbank lender and will be used going forward to achieve company growth objectives and manage the ebbs and flows of a seasonal industry.  MRC's structural flexibility and the time taken to understand the underlying business were key differentiators as compared to the prior lender's structure.

Jay Fabian, Managing Director at MRC stated, "Partnering with a local family-owned business to provide the flexibility it needs to thrive is an ideal outcome for MRC.  The ability to provide tailored financing structures that suit the unique needs of our borrowers will only become more crucial going forward in what is a very competitive financing market.  We look forward to a fruitful partnership with the company."

Fort Dearborn Partners served as investment bank/advisor on this transaction.

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