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MB Business Capital Provides $8MM Credit Facility for Western Industries Plastic Products

June 28, 2017, 07:13 AM
Filed Under: Plastics

MB Business Capital announced it recently provided a new $8,000,000 senior credit facility to Winfield, Kansas-based Western Industries Plastic Products, LLC (WIPP). WIPP is a plastic blow molding manufacturer serving the furniture, outdoor living, recreational goods, and selected industrial markets. WIPP is a portfolio company of Speyside Equity and a new spin off for Speyside. 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.

"MB Business Capital is very pleased to welcome Speyside Equity and Western industries Plastic Products. WIPP has a unique competence in large part plastic blow molding and manufactures some of the largest and most complex products in the industry. With the company's expertise and the new MB lending facility they should be able to execute their growth initiatives," says Michael Sharkey, President of MB Business Capital.

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