Bain Capital Credit Backs Middle-Market Asset-Based Lender Legacy

A subsidiary of Boston-based Bain Capital Credit is backing the launch of Legacy Corporate Lending, a new asset-based lending company that serves middle market companies that might not be able to readily access traditional forms of lending or the syndicated lending market.

Based in Plano, TX, Legacy will provide revolving credit facilities and term loans between $10 million and $40 million. The company intends to make loans that are secured by assets including accounts receivable, inventory, machinery and equipment, real estate and intellectual property.

“We are excited to establish this well-capitalized platform in partnership with Bain Capital Credit at a time when lending provides an essential solution to many companies,” Legacy Corporate Lending CEO Clark Griffith said.

Legacy said it provides direct financing – both private and public – across a variety of industries including automotive, business services, consumer products, distribution and wholesale, e-commerce and retail, food and beverage, manufacturing and transportation and logistics.

Legacy is a portfolio company of Bain Capital Specialty Finance, Inc. and Bain Capital Private Credit.