Monroe Capital LLC funds senior credit facility for the acquisition of Gem Shopping Network
In an announcement today, Monroe Capital LLC said it was funding a USD27.5 million senior secured credit facility for the acquisition of Gem Shopping Network Inc. The said acquisition was being done by an affiliate of Sun Capital Partners Inc.
Gem Shopping Network Inc, which is based out of Duluth, GA, is in the retail business market that specializes in high quality colored gemstones and jewelry sold through its television network. Established in 1995, the company is able to connect its loyal customer base through television shows that are broadcast via satellite, through cable shows and via the Internet to reach an ever growing market of nearly 40 million households in the United States.
For its part, Monroe Capital LLC is one of the leading providers of debt, both junior and senior as well as equity co-investments to middle market firms throughout the United States and Canada. The investments include tranched financing, cash flow or enterprise value loans, acquisition facilities, mezzanine debt, equity co-investements and other liens or loan instruments.