ATLANTA — Microf LLC, a provider of residential lease-to-own products for the HVAC industry, raised $96.7 million in growth capital. The combined debt and equity raise is funded through a new $40 million committed senior debt facility provided by Atalaya Capital Management with an additional $40 million accordion feature; a new $10 million senior debt facility provided by Microf’s existing lender, BrandBank; and $6.67 million in equity provided by current equity investors. These capital commitments continue Microf’s financial momentum after securing an initial investment from private-equity firm Rotunda Capital Partners in May 2015. The capital provides the company with a diversity of funding sources, staggered maturities, and ample senior capacity to fund its continued rapid growth.
“Microf is changing the way U.S. homeowners restore their heating and cooling needs with affordable monthly payments,” said Mitch Masters, CEO, Microf. “This round of funding will accelerate the profitable growth of Microf and allow us to assist many more homeowners who need alternative solutions to acquire a new HVAC system for their home.”