Monroe Capital today announced the funding of a USD23 million unitranche facility to The O’Gara Group. Monroe Capital’s facility was used to refinance existing debt and provide ongoing working capital.
The O’Gara Group, headquartered in Cincinnati, Ohio, provides a diverse portfolio of security, safety and defense products and services to global corporations, government organisations and individuals, including the U.S. military and intelligence community, the UK Ministry of Defence, Italian Ministry of Defence, law enforcement, state and municipal governments. Organised into three distinct divisions: Training and Services; Sensor Systems; and, Mobile Systems, The O’Gara Group’s activities are focused on delivering specialised products and services that improve the ability of government, military and commercial organisations and individuals to prepare for, respond to, and recover from conflicts, civil unrest, acts of terrorism, violent crime and other hazards such as environmental and natural disasters.
Michael J Egan, Managing Director and Chief Operating Officer at Monroe Capital, says: “The unitranche facility we provided to The O’Gara Group will be used to repay debt under an existing credit facility, leaving the remainder for working capital needs and financing future growth. We are proud to assist The O’Gara Group in their development of cutting edge, market-leading products and services that are used by a wide range of military, commercial and government organisations worldwide.”
Bill O’Gara, President and Chief Executive Officer of The O’Gara Group, says: “We are excited to enter into this relationship with Monroe Capital as we look to continue growing our business and remain focused on the security, safety and defense markets. Monroe Capital’s innovative unitranche financing provided the right credit solution for us to refinance our debt, continue to grow our business and execute on our business strategy. Monroe has been the perfect financing partner for us.”
