We were all pleased with the manner in which the MB team met expectations at every step along the way to closing the deal,” said Jack Lowden, Chairman of Metpar and President of New Castle Partners.
Chicago, IL (PRWEB) October 24, 2017
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $9.000,000 senior credit facility to Metpar Corporation (“Metpar”). Metpar is a leading manufacturer and worldwide distributor of commercial bathroom partitions, headquartered in Westbury, New York originally founded in 1952. Metpar’s products are found in high use public structures such as schools, government buildings, sports and entertainment venues, office buildings, and shopping centers. MB’s credit facility was used to refinance existing senior indebtedness and will fund working capital needs going forward.
Metpar is a portfolio company of New Castle Partners LLC, a Greenwich, Connecticut- based private investment firm that invests in and acquires successful, middle-market operating companies in partnership with management.
“We welcome New Castle Partners and Metpar to MB. We appreciate the relationships we have with our valued key partners like New Castle and we look forward to working together,” says Michael Sharkey, President of MB Business Capital.
“MB’s focus on the lower middle-market was a great fit for Metpar. We were all pleased with the manner in which the MB team met expectations at every step along the way to closing the deal,” said Jack Lowden, Chairman of Metpar and President of New Castle Partners.
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 $35 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 $20 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