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July 9, 2019
Sterling National Bank’s Asset Based Lending Group provided senior secured credit facilities totaling $35,000,000 to finance the acquisition of Alex Apparel Group, Inc. (“Alex”) by affiliates of Versa Capital Management, LLC (“Versa”).
Established in 1989, Alex Evenings is a market leader in producing classic eveningwear dresses and separates in the moderate to better price range with a focus on fit and comfort. Versa is a Philadelphia based private equity firm that invests in a wide range of industries.
This transaction was originated by John Rossi, a Managing Director located in Sterling’s Boston office.
Sterling National Bank provides asset based loans to mid-sized companies operating across a wide range of industries. Sterling’s Asset Based Lending Group offers a variety of flexible financing options through a combination of revolving lines of credit and term loans, employing funds from $5 million to $40 million*. Learn more about Asset-Based Lending.
*Statements are not a commitment to lend and are subject to specific borrower qualifications as well as underwriting.
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