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MB Business Capital Provides $9.6MM in Midway Rental Acquisition

January 12, 2015, 07:44 AM
Filed Under: Rental

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $9.6 million senior credit facility to RE Investment Company LLC, a wholly owned subsidiary of Miami, Florida, based Rental Equipment Investment Corp. for the acquisition of Midway Rental & Power Equipment, Inc. and its affiliate Kurken, Inc. Midway is based in Kalispell, Montana, and rents industrial and construction equipment,  including lifts,  generators,  excavators,  tractors,  and  other  items, to industrial customers (railroads, sawmills, oilfields, and agriculture-related businesses), general contractors and resorts. 

Rental Equipment Investment Corp. is a new holding company led by Kevin Fitzgerald, the former chief executive officer of Neff Rental.

MB Business Capital is the asset-based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.

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