Monroe Capital has provided a $31.4 million credit facility to back the recapitalization of Worldwise, a Novato, California-based pet products supplier. Worldwise is a portfolio company of Mistral Equity Partners.
CHICAGO–(BUSINESS WIRE)–Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on a $31.4 million unitranche credit facility to support the recapitalization of Worldwise, Inc. (“Worldwise”) and ongoing innovation and product development, as well as future acquisitions by private equity sponsor, Mistral Equity Partners.
Based in Novato, California and founded in 1990, Worldwise is a leading supplier of pet products including pet bedding, travel bags and accessories, cat toys, catnip, cat scratchers and dog toys. Worldwise’s products are sold throughout the world at over 30,000 doors across multiple retail channels, including mass merchandisers, grocery, drug, home/value, pet specialty, and e-commerce channels. The company’s portfolio of brands include SmartyKat, TrustyPup, Petlinks, Hear Doggy!, Sherpa, and goDog. Worldwise recently acquired Quaker Pet Group and continues to look for strategic add-on acquisitions.
About Monroe Capital
Monroe Capital LLC is a leading provider of senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. 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. Monroe has been recognized by Global M&A Network as the 2013, 2014 and 2015 Small Middle Markets Lender of the Year, Private Debt Investor as the 2013 Unitranche Lender of the Year and the 2014 Senior Lender of the Year, and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. To learn more about Monroe Capital LLC, visit www.monroecap.com.
Petlinks®, SmartyKat®, TrustyPup®, SHERPA®, goDog™, Hear Doggy!™ and kathy ireland® Loved Ones products are manufactured by Worldwise®, a leading consumer pet products company. By developing innovative, solution-based and high-quality products from environmental materials whenever possible, Worldwise brands are changing consumer beliefs about the look, feel, price and performance of environmentally-responsible products. To learn more about Worldwise, visit www.worldwise.com.
About Mistral Equity Partners
Mistral Equity Partners is a private equity firm comprised of highly experienced investment professionals and seasoned industry executives. The Firm specializes in the consumer, retail and consumer focused media sectors, and is especially attracted to businesses that are supported by strong demographic trends and fundamental changes in consumer preferences.