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FirstMerit Bank Business Credit Provides $6.7MM Facility to Addison McKee

February 04, 2013, 07:30 AM

FirstMerit Bank Business Credit announced it closed a new $6.7 million revolving credit loan and lease facility to Addison McKee, Inc. on January 24, 2013. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital. Addison McKee, Inc. is a portfolio company of Albion Investors, a private equity firm with offices in New York and Chicago.

Addison McKee, Inc. headquartered in Lebanon, OH with subsidiaries in Canada and England, manufactures tube bending, end forming and muffler assembly equipment primarily for Tier I automotive suppliers.

FirstMerit Bank Business Credit provides working capital and term loan facilities to middle –market companies for acquisitions, LBO’s, MBO’s recapitalizations, rapid growth, seasonal working capital build-up, and turnaround situations.

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