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Bank of America Business Capital Provides $30MM ABL to Techniplas

August 17, 2015, 08:01 AM
Filed Under: Plastics

Bank of America Business Capital recently closed a $30 million senior secured asset-based loan to Techniplas LLC. Techniplas is a market leading producer of highly engineered and technically complex plastic components and systems for the industrial and automotive industries.

“This is a great example of our ability to leverage our financial and automotive industry expertise in partnering with Techniplas,” said Jeff McLane, President of Bank of America Business Capital.  “We look forward to helping them achieve their continued growth and future success.”

“This new relationship demonstrates our continued commitment to core middle market companies,” said Brian Wright, senior vice president and head of marketing for the Central Region of Bank of America Business Capital. “We continue to be a preferred financing partner for Midwest-based companies, and we’re happy to help companies like Techniplas through periods of growth.”

Based in Nashotah, WI, Techniplas is a privately held group of specialized plastics manufacturing companies which emphasize innovative design, engineering, and technical capabilities with a particular focus on light weighting and metal to plastic conversion. With technically advanced facilities in North America, South America, Europe and Asia, the Techniplas Group acts as complete supply chain partner committed to ongoing innovation, advanced process and product design and flawless execution for exacting customers around the world.

Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than 10 primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.

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