Monroe Capital has provided a $50 million credit facility to Garden Grove, California-based KushCo Holdings Inc, a producer of ancillary products and services to the cannabis and hemp industries. The capital will be used for working capital, growth and potential acquisitions.
CHICAGO–(BUSINESS WIRE)–Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on a $50 million senior secured revolving credit facility to support working capital, organic growth and potential acquisitions for KushCo Holdings, Inc. (the “Company”).
Founded in 2001 and based in Garden Grove, California, the Company is the premier producer of ancillary products and services to the cannabis and hemp industries. The Company subsidiaries and brands provide, product quality, exceptional customer service, compliance knowledge and a local presence in serving its diverse customer base. The Company has now sold more than 1 billion units to growers, processors and producers across North America, South America, and Europe. While the Company provides products and solutions to customers in the cannabis and CBD industries, it has no direct involvement with the cannabis plant or any products that contain THC or CBD.
“We’re excited to enter this high-growth industry with the Company,” commented Ted Koenig, President & CEO of Monroe. “They are a best in class business in a unique position to take advantage of opportunities in this emerging business sector and we look forward to supporting their continued growth and capital needs.”
About Monroe Capital
Monroe Capital LLC (“Monroe”) is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides debt financing to businesses, special situation borrowers, and private equity sponsors. Investment types include cash flow, enterprise value and asset-based loans; unitranche financings; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management, and private equity and independent sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.
Monroe has been recognized by Creditflux as the 2019 Best US Direct Lending Fund; Private Debt Investor as the 2018 Lower Mid-Market Lender of the Year; Global M&A Network as the 2018 Small Middle Markets Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit www.monroecap.com.