3E: Essential. Energy & Environmental Infrastructure Services
Monroe Capital LLC today announced the funding of a $21 million junior term loan and equity investment in partnership with Benton-Georgia’s senior lender, Wells Fargo Bank, which provided a $30 million asset-based lending facility to Benton-Georgia, LLC. Monroe Capital’s investment was used to support the acquisition of the company by Dale LeFebvre.
Benton-Georgia, LLC, headquartered in Douglasville, GA, for over 90 years has been a premier supplier of underground, natural gas pipeline construction services to leading utility and energy companies throughout the Eastern United States. The company’s services are typically provided to utility customers that are completing transmission or distribution projects.
Theodore L. Koenig, President and Chief Executive Officer of Monroe Capital, said, “We were glad to provide the financial support for the acquisition and long-term needs of the business. Our investment enabled Dale to complete the buyout transaction and we look forward to working with Dale on the next stage of the company’s growth.”
Dale LeFebvre, Executive Chairman of Benton-Georgia, LLC, said, “We are very excited about starting a new financing relationship with Monroe Capital. Monroe provided us with a great financing solution for a complex transaction. We look forward to partnering with Monroe in the coming years as we execute on our growth strategy.”
About Monroe Capital
Monroe Capital is a private investment firm providing senior and junior debt and equity investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, bridge loans, acquisition facilities, mezzanine debt, second lien or last-out loans, equity investments and acquisitions of distressed debt. 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.