“We welcome Oberfields to MB Business Capital. We value our strong working relationship with the Graycliff team and are excited to assist in the acquisition of this growing Ohio-based company.” says Michael Sharkey, President of MB Business Capital.
Chicago, IL (PRWEB) April 25, 2017
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $13,000,000 senior credit facility to Delaware, Ohio-based Oberfields, LLC (“Oberfields”) as part of an acquisition of the company by Graycliff Partners and management. Founded in 1961, Oberfields is a leading manufacturer and distributor of a broad range of concrete masonry and hardscape products, including architectural block, retaining walls, pavers, precast products and accessories. The Company delivers product throughout Ohio and parts of Indiana, Kentucky, Pennsylvania and West Virginia. MB’s credit facility was used to support the acquisition of Oberfields and to fund capital expenditure and working capital needs going forward.
Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the United States and Latin America. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, dividend recapitalizations, growth and expansion.
“We welcome Oberfields to MB Business Capital. We value our strong working relationship with the Graycliff team and are excited to assist in the acquisition of this growing Ohio-based company,” says Michael Sharkey, President of MB Business Capital.
“Graycliff and the management team have high expectations for the future growth of Oberfields, both in our core Ohio market and beyond, and feel we have chosen a strong partner in MB Business Capital to help execute those plans,” says Will Henderson, Managing Director of Graycliff 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 $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.