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MB Business Capital Announces $9MM Credit Facility for Metpar

October 25, 2017, 07:11 AM
Filed Under: Manufacturing

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $9.000,000 senior credit facility to  Metpar Corporation (Metpar).  Metpar is a manufacturer and worldwide distributor of commercial bathroom partitions, headquartered in Westbury, New York originally founded in 1952.  

Metpar’s products are found in high use public structures such as schools, government buildings, sports and entertainment venues, office buildings, and shopping centers.  MB’s credit facility was used to refinance existing senior indebtedness and will fund working capital needs going forward.

Metpar is a portfolio company of New Castle Partners LLC, a Greenwich, Connecticut- based private investment firm that invests in and acquires successful, middle-market operating companies in partnership with management.

“We welcome New Castle Partners and Metpar to MB. We appreciate the relationships we have with our valued key partners like New Castle and we look forward to working together,” says Michael Sharkey, President of MB Business Capital.

“MB’s focus on the lower middle-market was a great fit for Metpar.  We were all pleased with the manner in which the MB team met expectations at every step along the way to closing the deal,” said Jack Lowden, Chairman of Metpar and President of New Castle Partners.

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