Madison Capital Lays Off 10%

Mid-market lender Madison Capital has laid off 7 employees, or 10% of its staff, Senior Managing Director Chris Williams confirmed to peHUB. The layoffs occurred yesterday on the heels of news that Dymas Capital, another Chicago-based middle market lender, had laid off 10 employees. Six deal pros remain at Dymas.

For its part, Madison Capital reduced its headcount to the the same level it had in fiscal 2007, Williams said. “Throughout 2008, we ramped up to meet the activity levels we were experiencing. The first quarter of 2008 was a record time for us. The deal flow has slowed down so we have taken ourselves back a level.” The firm now has 55 to 60 people.

Williams stressed that this does not mean Madison Capital is on the sidelines. “We are still open for new business and looking at new platform opportunities. We’re still getting new deals and have capital to deploy,” he said.

Here is the website of Madison Capital’s team members.

In other lender layoff news, the comments continue to pile up on what’s become a GE Capital layoff message board. For more on the Dymas Capital layoffs, including names of those affected, click here.