CHICAGO, August 22 /CNW/ - Monroe Capital LLC announced that it teamed
with Merrill Lynch Business Financial Services Inc., as agent, to provide a
$31,000,000 senior credit facility to Corporate Travel Holdings, Inc. in order
to finance its acquisition of Tzell Travel, LLC. Corporate Travel Holdings,
Inc. was formed primarily by Tzell Travel, LLC management to acquire all of
the outstanding capital stock of CNG Travel Group plc, an Irish public limited
Headquartered in New York City and founded in 1966, Tzell Travel, LLC is
a top provider of corporate travel management services offering a broad
product line of meeting services and comprehensive travel management programs.
Focused on the mid-sized corporate travel sector, the company operates a low
fixed-cost, low risk business model as a support and aggregation entity for
independent travel agencies with established client bases.
Theodore L. Koenig, President and Chief Executive Officer of Monroe
Capital, said, "We are very pleased that we could work with Merrill Lynch on
this transaction. We look forward to expanding our credit relationship with
Corporate Travel Holdings and its management team."
William Lynch of Corporate Travel Holdings said, "Monroe Capital was
fast, flexible and a pleasure to do business with. We look forward to working
with them as one of our key financing partners."
Monroe Capital is a specialty finance company providing senior secured
and junior secured debt to middle-market companies. Monroe Capital specializes
in originating, structuring and providing customized one-stop financings to
U.S. and Canadian borrowers. Monroe is committed to being a value-added and
user-friendly partner to owners, senior management and transaction sponsors.
Investment types include senior and junior secured debt as well as bridge
loans, flexible acquisition facilities, mezzanine or last-out second loans
that stretch a company's debt capacity, acquisitions of distressed debt, and
equity co-investments. Monroe Capital prides itself on its flexible investment
approach and its ability to close and fund transactions quickly. To learn more
about Monroe Capital, visit www.monroecap.com.
For further information:
For further information: Monroe Capital LLC Theodore L. Koenig President
and CEO Phone: (312) 258-8300 Fax: (312) 258-8350 www.monroecap.com