Chicago, IL (PRWEB) October 20, 2016 -- MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new senior credit facility to O.S. Walker Co., Inc. and it’s affiliates (“Walker Magnetics”). Walker Magnetics designs and manufactures industrial magnetic products using permanent, electro-permanent and electromagnetic technologies for workholding, lifting, material handling, scrap magnets and separation. The company’s reach is international with manufacturing, research and development capabilities in North America, Europe and Asia. Walker delivers their product line to over 190 countries worldwide. Proceeds of the facility were used to refinance existing debt and to fund working capital needs going forward.
Walker Magnetics is a portfolio company of Philadelphia, Pennsylvania based Alliance Holdings. Alliance Holdings is an employee-owned private equity firm that operates as a holding company for the acquisition of equity interest in operating companies. “We are very pleased to have MB Business Credit as our lender at Walker. MB provided a thoughtful and flexible capital structure for Walker and executed the transaction professionally and timely. The deal couldn’t have gone any smoother,” says Trish Papile, CFO of Alliance.
“Walker Magnetics uses innovation to help their customers realize efficiency, safety and reduce costs. MB Business Capital uses our experience, our focus on providing excellent customer service and exceptional financial structures to provide top-notch solutions for our customers. We are very happy to welcome Walker Magnetics as a new customer,” says Michael Sharkey, President of MB Business Capital.
About O.S. Walker Co., Inc.
In 1896 Oakley S. Walker, the inventor of the electromagnetic chuck founded the O.S. Walker Company in Worcester, Massachusetts. Walker Magnetics designs and manufactures industrial magnetic products using permanent, electro-permanent and electromagnetic technologies for workholding, lifting, material handling, scrap magnets and separation. Walker’s lifting magnets are commonly used in steel mills, scrap yards, loading docks, warehouses, foundries, shipyards, and coil steel and pipe distributors. Separations magnets include magnetic pulleys, drums, suspended magnetic separators, and eddy-current separators designed for bulk process beneficiation, tramp iron removal, and non-ferrous metal recovery. Walker also manufacturers chuck and provides magnet repair services. The company’s reach is international with manufacturing, research and development capabilities in North America, Europe and Asia. Walker delivers their product line to over 190 countries worldwide.
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.
Karen Perlman, Senior Vice President, MB Financial Bank, http://www.mbfinancial.com, +1 847.653.1788, [email protected]