Chicago, IL (PRWEB)
August 04, 2017
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $12, 275,000 senior credit facility to Schiller Park, Illinois-based Midland Stamping and Fabricating Corporation (“Midland”). Midland is a full-service provider of contract metal stampings and fabrications to major tier one manufacturers in automotive, appliance, industrial, trailer, and cookware industries. Midland was acquired by Speyside Equity in January of 2017. 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.
“We are so pleased to welcome the second portfolio company of Speyside Equity to MB. Midland has unique processing capabilities and value-added services, and with the new MB Business Capital lending solution they will be able to leverage growth opportunities in their markets.” 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…