Press Releases
Monroe Capital Provides $30 Million to AMB Tran Group, Ltd.
Chicago, IL, July 18, 2006
Monroe Capital LLC announced the funding of a new $30 million credit facility for AMB Tran Group, Ltd. Monroe Capital acted as sole arranger and agent of a (i) $5 million senior secured revolving credit facility; (ii) $15 million senior secured term loan; (iii) $2 million capital expenditure term loan facility; and (iv) $8 million junior secured term loan. Proceeds of the new credit facility were used by the borrower to refinance its existing indebtedness and assist in a dividend recapitalization of the company.
AMB Tran Group is comprised of five separate operating businesses, each of which are engaged in emergency and non-emergency transportation services in the greater Chicagoland metropolitan area stretching from Indiana to Wisconsin.
Carl Vandenberg, Chairman of AMB Tran Group, said, “Monroe Capital stepped in and provided us with a one-stop financing solution that met all of our financing needs. It was a pleasure working with them. They provided us with exactly what we needed.”
Theodore L. Koenig, President & CEO of Monroe Capital, said “We very much appreciate the ability to assist a quality company with quality management like AMB Tran Group in their continued growth. We look forward to being a strong financing partner with this company for years to come.”
Monroe Capital is a specialty finance company devoted to providing innovative capital to middle-market businesses. Monroe Capital specializes in originating, structuring and providing customized financing to corporate, real estate, media and communication, and asset-based borrowers based in the U.S. and Canada in amounts of $3 million to $40 million, with an ability to agent and syndicate larger transactions. These investments include senior and junior secured debt as well as bridge loans to companies in need of immediate access to capital; flexible acquisition facilities for acquirers of opportunistic assets; mezzanine or last-out second loans that stretch a company’s debt capacity; acquisitions of distressed debt; and equity co-investments. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. To learn more about Monroe Capital, visit www.monroecap.com.