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MB Business Capital Provides $15.275MM to Midland Stamping & Fabricating Corp.

August 07, 2017, 07:12 AM
Filed Under: Manufacturing

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $15.275 million senior credit facility to Schiller Park, Illinois-based Midland Stamping and Fabricating Corporation. 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.

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