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.