We are pleased to have entered into this credit facility with MB. They understand the capital-intensive nature of our business and have responded with a credit facility that can grow with us over the next decade, said Scott Smith, Chairman of Farwest.
CHICAGO (PRWEB) February 19, 2019
MB Business Capital, a division of MB Financial Bank, N.A., announced it acted as sole lender and administrative agent on the funding of a $6,500,000 senior credit facility to Moxee, Washington-based Farwest Operating, LLC (“Farwest” or the “Company”). Farwest is a metal fabrication company specializing in sheet metal fabrication and CNC machining. The Company manufactures and fabricates metal parts from flat to finish, serving customers in a variety of industries including telecommunications, construction, medical, military, and agriculture. Farwest is a portfolio company of OneAccord Capital. MB’s credit facility was used to refinance senior indebtedness and to fund working capital needs going forward.
OneAccord Capital is a leading lower-middle-market M&A advisory firm and private equity group headquartered in the Pacific Northwest. They serve the owners of family-owned and privately held companies and focus on companies with EBITDA of $1 million and above in a variety of industries.
“We welcome Farwest to MB. We were able to facilitate a new ABL lending solution that gave the company the liquidity and flexibility that they needed to execute their plans,” said Michael Sharkey, President of MB Business Capital.
“We are pleased to have entered into this credit facility with MB. They understand the capital-intensive nature of our business and have responded with a credit facility that can grow with us over the next decade,” said Scott Smith, Chairman of Farwest.
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 $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 mbfinancial.com