Mountain Ridge doubles ABL facility to $400M with Wells Fargo
What's the deal? Mountain Ridge CapitalDealroom has a profile for this one. Try Dealroom →, a Frisco, Texas-based asset-based commercial finance company, has doubled its asset-based lending (ABL) facility from $200 million to $400 million. The facility is agented by Wells Fargo Capital FinanceDealroom has a profile for this one. Try Dealroom → and backed by a syndicate of banks, including five new lenders to MRC's bank group.
What's the endgame? MRC provides customised asset-based revolvers and term loans to middle-market businesses, using an industry-agnostic approach to collateral. It targets privately held, family-owned, and private equity-backed companies needing liquidity for turnarounds, restructuring, acquisitions, and ownership changes.
Why now? The oversubscribed upsize gives MRC more firepower for a growing deal pipeline in the middle-market ABL space. "This expanded facility will support our growing pipeline as we continue to serve middle market companies with creative and unique lending solutions," said chief executive officer Craig Winslow.
What's the context? The MRC platform was built in partnership with Arena InvestorsDealroom has a profile for this one. Try Dealroom → to meet demand for non-bank debt financing, which sidesteps slow bank committees and lengthy due diligence. Stewart Hayes, managing director at Wells Fargo Capital Finance, said the bank "look[s] forward to working together as they execute on their strategic priorities."
The signal: At $400 million, the facility ranks in the 95th percentile of all US fintech debt rounds tracked, underscoring how private lenders are scaling to fill the gap left by traditional banks in mid-market financing.
Read more: Secured Finance Network
