Chicago, IL (PRWEB) June 27, 2017
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $8,000,000 senior credit facility to Winfield, Kansas-based Western Industries Plastic Products, LLC (“WIPP”). WIPP is a plastic blow molding manufacturer serving the furniture, outdoor living, recreational goods, and selected industrial markets. WIPP is a portfolio company of Speyside Equity and a new spin off for Speyside. MB’s credit facility will be used to fund working capital needs.
Ann Arbor, Michigan-based Speyside Equity employs an operationally intensive approach to investing in industrial, specialty chemicals, and food ingredients businesses. Speyside targets companies with a history of strong revenue, a defensible position in their respective markets, and a core group of managers that can move the business forward. Speyside prefers situations where there are opportunities to leverage its operating expertise to improve financial performance and create sustainable long-term value.
“MB Business Capital is very pleased to welcome Speyside Equity and Western industries Plastic Products. WIPP has a unique competence in large part plastic blow molding and manufactures some of the largest and most complex products in the industry. With the company’s expertise and the new MB lending facility they should be able to execute their growth initiatives,” says Michael Sharkey, President of MB Business Capital.
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 $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