Applied Merchant Adds $15M Debt from Monroe Capital

Applied Merchant Systems West Coast Inc. has added $15 million in debt financing from Monroe Capital. The money will help Applied Merchant refinance existing debt, repurchase common stock, and provide working capital. Applied Merchant Systems, based in Oxnard, Calif., provides products and services to the electronic merchant transaction processing industry. Monroe Capital provides senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada.

PRESS RELEASE
Monroe Capital LLC announced the funding of a $15 million senior credit facility to Applied Merchant Systems West Coast, Inc. Monroe Capital’s loan facility was used to refinance existing debt, repurchase common stock, and provide ongoing working capital. Monroe Capital also provided a committed acquisition facility to the company as part of its financing.

Applied Merchant Systems, based in Oxnard, California, is an Independent Sales Organization (ISO) and a leading provider of diversified products and services to the trillion dollar electronic merchant transaction processing industry and provides processing services to merchants that include authorization, transaction capture, settlement, chargeback handling, and internet-based transaction processing.

Warren Woo, Managing Director of Monroe Capital, said, “We believe that Applied Merchant Systems has the experience and capability to become one of the dominant players in the electronic merchant transaction processing industry. We are very impressed by their knowledge of the industry and the depth of their management talent.”

Jonathan Severn, Founder and CEO of Applied Merchant Systems, said, “Monroe Capital is the perfect financial partner for us. They quickly understood our business and financing needs and gave us all the capital we requested to execute our growth strategy. We look forward to a long and prosperous relationship with Monroe Capital.”

About Monroe Capital
Monroe Capital is a private investment firm providing senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include one-stop financings, bridge loans, acquisition facilities, mezzanine debt, second lien or last-out loans, equity co-investments and acquisitions of distressed debt. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. Monroe is committed to being a value-added and user-friendly partner to owners, senior management and private equity sponsors. To learn more about Monroe Capital, visit www.monroecap.com.