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MB Business Capital Announces $24MM Funding for Ferrara Fire Apparatus

July 15, 2015, 07:48 AM
Filed Under: Manufacturing

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $24 million senior credit facility to Holden, Louisiana based Ferrara Fire Apparatus, Inc. (Ferrara). Ferrara is a custom designer and manufacturer of emergency response vehicles. Ferrara has delivered more than 5,000 new fire apparatus to agencies in the United States and around the world. Proceeds of the facility were used to fund Ferrara’s continued growth.

Ferrara is a portfolio company of Merit Capital Partners based in Chicago, IL. Merit Capital Partners has raised $1.7 billion through five institutionally sponsored limited partnerships. Merit invests mezzanine and equity capital in middle-market companies principally in manufacturing, distribution and service industries.

Ben Yarbrough, Principal at Merit Capital Partners says, “Our goal is to work with committed owners and strong managers to help increase a company's enterprise value. Part of that strategy consists of working with strong committed financial partners like MB Business Capital. MB doesn’t just offer financing; they offer tailored solutions that help Merit create value for us and our clients.”

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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