Monroe Credit Advisors announced that it placed a $16.0 million senior secured credit facility for its client, AllOver Media, Inc., a leading national provider of out-of-home advertising solutions headquartered in Minneapolis, Minnesota. Proceeds of the facility refinanced the existing debt of the company.
Brent Krambeck, Managing Director and Partner of Monroe Credit Advisors, said, “Our team was hired to structure and arrange a financing that would lower the company’s overall cost of capital and provide capacity for growth. We moved quickly to get into market and through our process, generated a number of options for the company to consider. We are pleased that we delivered a successful debt placement that met AllOver Media’s objectives.”
AllOver Media provides out-of-home advertising products at high traffic locations across the United States offering market saturation across every designated market area in the country. The company’s core products are primarily located in high traffic areas such as gas stations, convenience stores, restaurants and sports venues, as well as on ice boxes and truck sides, offering billions of impressions to consumers away from home.
Shaun Nugent, CFO of AllOver Media, said, “The Monroe team did an excellent job raising our debt capital and their debt placement process allowed us to focus our time on running our business. Monroe exceeded our expectations by generating a number of different structuring options and partners that we could consider. The process was efficient and we are very pleased with the results.”
Monroe Credit Advisors is executing more engagements with independent companies that are seeking a debt solution that requires relationships beyond the local bank market, particularly for non-sponsored cash flow transactions. Krambeck adds, “We think the AllOver Media transaction is an excellent example of how our team can bring debt market expertise to a particular financing opportunity that will create options and flexibility for our clients. Our process enables management teams to focus on running their business while we work to raise the debt capital. We are very pleased that our clients use us as an added resource to their team.”
Monroe Credit Advisors, the investment banking affiliate of middle market lender, Monroe Capital, provides debt capital solutions to middle market companies and their investors through strategies built for today's dynamic credit markets. The firm advises on structuring and arranging credit through its relationships with a broad spectrum of debt providers including banks, commercial finance companies, debt investment funds and leasing companies. The firm’s experienced team of leveraged finance professionals approaches the market with a lender's perspective, delivering to its clients real time market intelligence and structuring expertise that results in significant savings of time and money, as well as increased certainty of execution.