We have completed several transactions with the MB Business Capital team and they never disappoint. Their proactive thinking, quick turn around and detailed follow through are why we continue to partner with them” Andrew Leonard, Managing Director, Spell
Chicago, IL (PRWEB) July 16, 2015
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $25 Million senior credit facility to Fort Worth, Texas based Anchor Fabrication, LLC. Anchor Fabrication is a full service metal fabrication business that serves the rail, industrial, heavy truck, oil and gas, and the logistics industry. Proceeds of the facility were used to facilitate the acquisition of Abby Manufacturing, fund ongoing growth initiatives and working capital. Abby Manufacturing, based in Walnut, Mississippi is a metal fabrication business operating with three facilities in Mississippi. Abby primarily serves the elevator, defense, and ground support equipment markets.
Spell Capital Mezzanine Partners based in Minneapolis, Minnesota, provided subordinated debt for the transaction. Spell Capital Mezzanine Partners provides mezzanine financing to lower middle-market companies throughout the United States. Spell finances leveraged acquisitions backed by lower middle-market private equity sponsors, management and family driven ownership transitions, add-on acquisitions, recapitalizations and growth initiatives.
“We have completed several transactions with the MB Business Capital team and they never disappoint. Their proactive thinking, quick turn around and detailed follow through are why we continue to partner with them” said Andrew Leonard, Managing Director of Spell Capital Mezzanine Partners. “The circumstances of this particular deal required a lender that was able to respond quickly to changes and navigate various structuring complexities, and MB Business Capital was the perfect fit. They were able to close quickly and with a competitive structure.”
About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $15 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals.
MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB Financial, Inc. at http://www.mbfinancial.com.