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MB Business Capital Provides $11.575MM Credit Facility for 3P Processing

May 17, 2018, 07:00 AM
Filed Under: Metals and Mining

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $11,575,000 senior credit facility to Wichita, Kansas-based 3P Processing, Inc. (3P). 3P is a full service provider of metal finishing, testing and inspection process services to the aerospace & defense sector, specializing in complex geometric and high-precision parts. MB’s credit facility was used to fund the acquisition of 3P by Spell Capital Partners, LLC, (Spell), refinance existing senior indebtedness and fund working capital needs going forward.

Spell is a Minneapolis-based private equity group that is engaged in the acquisition of controlling interests in well-managed, historically profitable industrial manufacturing businesses. They use their deep expertise in acquisitions and financing to collaborate with management and grow the businesses in which they invest – both internally and through add-on acquisitions.

“Spell and MB Business Capital have always been great partners. We are very pleased that we were able to close what we proposed in a very tight timeframe,” said Michael Sharkey, President of MB Business Capital.
“We have always had a good relationship with MB and Spell values the fact that MB understands and can operate easily with any sub-debt player involved in our transactions,” said Paul Meyering, Senior Managing Director of Spell.

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