Stonegate Capital, a diversified specialty finance company that provides $1 million to $10.0 million collateral-backed loans to established lower middle-market enterprises and emerging brands, announced that it has closed on a significant equity investment lead by Bridge Investments, a private equity firm based in Chicago, and New York-based MBB, LLC.
Stonegate was founded by a talented team that has enjoyed many years of experience and success in the industry, including Darren Latimer, former CEO of Gibraltar Capital Holdings; Tim Gottfried, who was previously at CDW and Cerberus Capital; Tony Cappell, formerly of First Midwest Bank; and Andrea Hedrick, who was most recently at Wells Fargo Capital Finance.
“Our particular focus is on providing collateral-backed debt to small- and medium-sized business whose needs are increasingly not being met by traditional financing sources,” said Darren Latimer. “We are where banks aren’t and pride ourselves on being nimble and adaptive. As market conditions change, we can continue to serve borrowers throughout the credit cycle—offering products that fit their needs, in positions that are mutually beneficial.”
Pete Schwab, former Chairman and CEO of Wells Fargo Capital Finance, will join Stonegate as a member of the Board of Directors. “I have worked with Darren for nearly 20 years. He is a tremendous talent and has assembled a terrific team. I am excited to join this group and contribute to the efforts of establishing Stonegate as a leading and differentiated lender to the lower middle market.”
Stonegate Capital Holdings is a diversified specialty finance company focused on providing $ 1 million to $10 million collateral-backed loans to the lower-middle market. We work collaboratively with our customers to find creative and flexible solutions to their capital needs by assessing their business in detail, thus providing us a unique understanding to be more supportive partners.
Bridge Investments provides capital to established lower middle-market businesses and to mid-stage venture enterprises.