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Veritas Financial Partners Provides $8.5MM to Stainless Foundry

August 10, 2016, 07:28 AM
Filed Under: Metals and Mining

Veritas Financial Partners announced the closing of an $8.5 million credit facility for Stainless Foundry & Engineering Inc. (“SFE”) to refinance their existing senior debt and provide additional capital for an opportunistic transaction set to close in the fourth quarter. Established in 1946 and headquartered in Milwaukee, WI, SFE is a leading manufacturer of stainless steel and high alloy castings serving diverse markets. With annual shipments of nearly 4 million pounds, SFE has the technical competence and manufacturing expertise to deliver specialized products ranging from grams to over 2,800 pounds.

Tom Shinners, Chief Financial Officer of SFE, said, “When we were selecting our new lender, the Veritas team stood out by proposing a customized solution to our unique capital needs and opportunity.  Veritas then fully delivered on that promise, while achieving all scheduled milestones.”

Gregg Simpson, Senior Vice President of Veritas Financial Partners, said, “Getting to know the SFE management team through our process has been a personal highlight.  Working with such high caliber individuals is what keeps us passionate to deliver solutions to businesses with complex needs.”  

This closing represents another successful transaction for Simpson with Guard Hill Holdings, SFE’s equity sponsor.

Veritas extends its thanks to Bob Frisch of Frisch Capital Partners.  Frisch served as financial advisor to SFE, rigorously representing its interests while assisting in effectuating a successful outcome.

Veritas Financial Partners is a specialty finance firm that provides $2 million to $15 million senior secured credit solutions to businesses across various industries. Veritas serves entrepreneurs and private equity sponsors by delivering the flexible, responsive capital needed to achieve their goals. As an affiliate of an investment fund with $2 billion in assets under management, Veritas benefits from a substantial long term capital base.

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