Sterling National Bank* Provides $35,000,000 Credit Facility to Alex Apparel Group, Inc.

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 evening wear 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.

*now known as Webster Bank as successor by merger.