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PNC Bank Provides Keywell Metals $25MM in Acquisition Financing

April 07, 2014, 08:07 AM
Filed Under: Recycling
Related: Asset Based, PNC Bank

PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. announced the closing of $25 million in senior secured financing for Keywell Metals LLC, based in Chicago, Ill. The transaction includes a $20 million asset-based revolver, a $5 million term loan and treasury management services. The funds assisted in the acquisition of the assets of SGK Ventures, LLC (formerly Keywell, L.L.C.) by Prophet Equity, and will provide for ongoing working capital financing.

Keywell Metals LLC is a leading supplier of recycled titanium, high-temperature alloys and stainless steel in North America.

The PNC Financial Services Group is one of the United States’ largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

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