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MB Business Capital Canada Provides $20MM Revolving Line of Credit to CDI

January 11, 2019, 07:15 AM
Filed Under: Technology

MB Business Capital Canada, a division of MB Financial Bank, N.A., announced it acted as sole lender and administrative agent on the funding of a $20,000,000 senior revolving credit facility to Markham, Ontario-based CDI Computer Dealers, Inc. (CDI). CDI is a refurbisher and remarketer of enterprise-grade IT equipment to educational institutions. CDI’s product line includes PCs, notebooks, tablets, servers, telecommunication and other technology equipment. MB’s credit facility and a term loan facility from MidStar Capital were used to refinance senior indebtedness and provide for working capital needs going forward.

MidStar Capital is a Canadian-based lender focused on providing flexible solutions to North American mid-market companies operating across a wide variety of industries. Through tailored financing arrangements, MidStar supports acquisitions, growth capital, refinancings, succession planning, and other strategic initiatives. MidStar Capital is part of Connor, Clark & Lunn Financial Group Ltd., an independently owned multi-boutique asset management firm whose affiliates are collectively responsible for over $75 billion in assets under management on behalf of institutional, private and retail clients.

“MB Business Capital Canada is pleased to have participated in a cost-effective senior debt facility with a flexible covenant structure to enable CDI to execute on its business plan and continued growth,” said Dan Flaro, Senior Vice President and Country Executive.

Mike Sharkey, President of MB Business Capital, added, “We’re thrilled to have CDI as a client as we continue to expand our product offering into the Canadian marketplace.”

“The MB Business Capital and MidStar Capital teams are seasoned professionals who demonstrated a sincere interest in learning about our business and executed seamlessly on their proposals,” said Erez Pikar, CEO of CDI.

 




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