MB Business Capital Announces $11.575 Million Credit Facility for 3P Processing

Share Article

MB announced it recently provided a new $11,575,000 senior credit facility to Wichita, Kansas-based 3P Processing, Inc.

News Image
“We have always had a good relationship with MB and Spell values the fact that MB understands and can operate easily with any sub-debt player involved in our transactions,” said Paul Meyering, Senior Managing Director of Spell.

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $11,575,000 senior credit facility to Wichita, Kansas-based 3P Processing, Inc. (“3P”). 3P is a full service provider of metal finishing, testing and inspection process services to the aerospace & defense sector, specializing in complex geometric and high-precision parts. MB’s credit facility was used to fund the acquisition of 3P by Spell Capital Partners, LLC, (“Spell”), refinance existing senior indebtedness and fund working capital needs going forward.

Spell is a Minneapolis-based private equity group that is engaged in the acquisition of controlling interests in well-managed, historically profitable industrial manufacturing businesses. They use their deep expertise in acquisitions and financing to collaborate with management and grow the businesses in which they invest – both internally and through add-on acquisitions.

“Spell and MB Business Capital have always been great partners. We are very pleased that we were able to close what we proposed in a very tight timeframe,” said Michael Sharkey, President of MB Business Capital.

“We have always had a good relationship with MB and Spell values the fact that MB understands and can operate easily with any sub-debt player involved in our transactions,” said Paul Meyering, Senior Managing Director of Spell.

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

Share article on social media or email:

View article via:

Pdf Print