LBC Credit Partners Provides Senior Secured Term Loan to Support the Acquisition of Klaussner Home Furnishings

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Apr 20, 2017, 10:12 ET

PHILADELPHIA, April 20, 2017 /PRNewswire/ -- LBC Credit Partners ("LBC"), a leading provider of financing solutions to middle market companies, provided a $ 56.0 million senior secured term loan to support the acquisition of Klaussner Home Furnishings ("Klaussner" or the "Company") by Monomoy Capital Partners.

LBC Credit Partners served as Administrative Agent and Sole Lender for the senior secured term loan.

Headquartered in North Carolina, Klaussner manufactures and distributes furniture and furniture components in the U.S. The Company supplies upholstery, casegoods, bedding and outdoor furniture to large home furnishings retailers, regional retailers and online retailers. Klaussner's industry-leading manufacturing capabilities and speedy delivery times have created a unique business model in a crowded furniture sector.

Founded in 2005, Monomoy Capital Partners is a private investment firm with $1.5 billion in committed capital in a family of private equity funds. They make investments in middle market businesses that can benefit from operational and financial improvement. Since Monomoy Capital Partners was founded, they have acquired over 40 middle market companies from a variety of sellers, including family owners, public companies, lenders and financial sponsors, and in a wide range of special situations, such as asset sales, equity sales and corporate carve-outs.

About LBC Credit Partners
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $2.8* billion of capital commitments, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has additional offices in Chicago and Los Angeles. To learn more, visit www.lbccredit.com.

*Information as of March, 2017

MEDIA CONTACT:
Lisa Rubano-Volansky
Tel (724) 979-4293
Email [email protected]

SOURCE LBC Credit Partners