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

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 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.

Senior Secured Credit Facilities
$35,000,000

Provided by:

Sterling National Bank

Webster 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.