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| [January 22, 2013] |
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Monroe Capital Provides $27 Million for Collaborative Neuroscience Network, Inc. ESOP Transaction
CHICAGO --(Business Wire)--
Monroe Capital LLC today announced the funding of a $27 million
unitranche facility to support the sale of Collaborative Neuroscience
Network, Inc. ("CNS Network") to a 100% Employee Stock Ownership Plan
owned corporation.
This is the first transaction completed by Monroe Capital's newly-formed
national ESOP lending practice. ESOPs offer corporate and individual
level tax advantages that are not typically available in traditional
third party sales. In today's rising tax rate environment, Monroe
Capital anticipates that demand will be robust for similarly structured
ESOP transactions in 2013 and beyond.
Based in Garden Grove, CA (News - Alert), CNS Network is aleading clinical trial
research provider, assisting pharmaceutical companies and contract
research organizations with the various phases of drug development. The
company provides services that manage various aspects of clinical trials
for pharmaceutical companies testing potential compounds and drugs for
FDA approval.
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, acquisition facilities, mezzanine debt, second lien
or last-out loans and equity co-investments for both ESOP and non-ESOP
transactions. 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 LLC, visit www.monroecap.com.
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