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MB Business Capital Provides Credit Facility to Support Graco Supply Acquisition

October 12, 2015, 08:05 AM
Filed Under: Specialty Chemicals

MB Business Capital, a division of MB Financial Bank, N.A., recently announced it  provided a new senior credit facility to Fort Worth, TX- based Graco Supply Co., Inc. Founded in 1959, Graco is a leading value-added distributor of chemicals, specialty materials, consumables and related services to the aerospace and defense industries.  Proceeds of the facility were used to facilitate the acquisition of Graco by CM Equity Partners and to fund working capital in conjunction with subordinated debt provided by Alcentra Capital Corporation.

CM Equity Partners ("CMEP") is a private equity firm located in NYC, focused primarily on the federal services and aerospace & defense industries, and also invests in the specialty industrial and business services sectors. Since its founding in 1992, CMEP has made more than 60 acquisitions and investments and has been responsible for managing nearly $500 million of equity investments and raising nearly $1.1 billion in debt.

Alcentra Capital Corporation is a NYC-based provider of subordinated debt and equity to middle-market companies with EBITDA between $5 million and $15 million. Alcentra is part of BNY Alcentra Group Holdings, which operates over 75 investment funds worldwide with $25.8 billion of total funds under management.  Alcentra seeks investments in defense-related businesses as one of its industry sectors.

“We were very pleased with MB’s proactive approach in proposing and moving their process along in an swift manner working expeditiously toward closing, as well as their ability to work cohesively with all of the parties involved in the deal”, said Wesley Gaus, a Managing Partner of CM Equity Partners.”

Michael Sharkey, President of MB Business Capital says, “Our relationship-based approach helped everyone involved get this deal done quickly and efficiently. We look forward to a long successful relationship with Graco, CM Equity and Alcentra.”

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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