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MB Business Capital Funds $6.45MM Facility for True Position Technologies

June 24, 2015, 07:54 AM
Filed Under: Manufacturing

MB Business Capital announced it recently provided a new $6.45 million senior credit facility to Valencia, California-based True Position Technologies (TPT).  TPT is a leading manufacturer of precision-machined parts and sub-component assemblies for the aircraft, aerospace, semi-conductor, medical and other industries. Proceeds of the facility will be used to refinance the company’s existing debt, fund working capital and pursue growth initiatives. TPT is a portfolio company of private equity fund Vintage Fund Management of Los Angeles, California. 

Vintage Fund Management, is a private investment firm providing structured growth capital in partnership with established lower middle market businesses owned and operated by experienced entrepreneurs. The portfolio companies of Vintage benefit from the decades of private equity and operating experience of the firm’s investment principals to assist and guide in the growth and expansion of their business.

“MB Business Capital took the time to understand our business at a very deep level and tailored a financing package specifically to our short and long-term needs,” commented Allen Sumian, CEO of TPT. “We couldn’t be happier with our new lending structure and we are pleased to have MB as our partner as TPT moves ahead with our business plan.”

“We are extremely pleased to have MB Business Capital as the senior lending partner of TPT.” said Tom Webster, Principal of Vintage Fund Management. “TPT is well positioned for significant growth and the proceeds from the facility will allow TPT to capitalize on the wealth of opportunities available in the market today.”

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.

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