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Tuesday, February 7, 2023

Monroe Capital (NASDAQ: MRCC) Announces Support for the Acquisition of Mulligan

Monroe Capital Corporation (NASDAQ: MRCC) has disclosed on Thursday that it has extended its support for the acquisition of Mulligan security by Protos Security. Monroe Capital LLC has also increased its credit facility to support Protos Security’s buying of Mulligan Security. Protos is an existing portfolio firm of Southfield Capital.

Monroe Capital Corporation (NASDAQ: MRCC) shares rocketed 0.10% as it lost +0.01 during the trading session of Wednesday. Monroe Capital’s share price went from a low point around $3.56 to briefly over $10.21 in the past 52 weeks, though shares have since pulled back to $9.64. MRCC’s market cap has stayed high, reaching $205.37 million at the time of writing.

Mulligan has it headquarter in New York. MRCC is a prominent regional provider of security and fire safety specialists. The merged firm largely serves real estate, pharmacies, grocery, retail, occupational, and business services end markets. The buying will speed up the expansion of Protos’ self-perform direct guard abilities.

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