“MB Business Capital understood our needs from the outset of the process and remained committed to finding a solution for us.” Bob Vedra, Senior Managing Director of IOP
Chicago, IL (PRWEB) September 20, 2016
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $18 million senior credit facility to Angola, Indiana-N based AAA Sales & Engineering, Inc. (“AAASE”). AAASE provides high precision production machining services that can be found in almost all modes of transportation including Automotive, Heavy and Medium Duty Trucks and Agriculture. The company is a "full service supplier" with complimentary capabilities including metallurgy, precision assembly, clean rooms, testing and cradle-to-grave part number management. Proceeds of the facility were used to enable Industrial Opportunity Partners to purchase certain assets of General Products Corp., refinance existing debt and to fund working capital.
Industrial Opportunity Partners, LLC ("IOP"), based in Evanston, IL, is a private equity investment firm. With $460 million of committed capital since its inception, IOP is focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. Utilizing its operations-focused approach and dedicated Board of Operating Principals, IOP has a track record of stabilizing, growing and enhancing the value of its acquired businesses.
“We are extremely pleased that we were able to provide AAASE a comprehensive financial solution that meets all of the Company’s needs. This new acquisition gives them the ability to expand into additional geographical locations, increase their market diversity, expand their manufacturing capacity, and reduce expenses.” says Michael Sharkey, President of MB Business Capital.
Bob Vedra, Senior Managing Director of IOP, stated, “AAASE needed a flexible capital structure and partner to help support its significant near-term growth. MB Business Capital understood our needs from the outset of the process and remained committed to finding a solution for us.”
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 $19 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.