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MB Business Capital Funds $12.5MM for Lake County Press

January 08, 2016, 07:12 AM
Filed Under: Printing

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $12.5 million senior credit facility to Waukegan, Illinois-based Lake County Press, Inc. (LCP). LCP is a custom printing company that focuses on the production of high-impact printed products and multiple piece projects from simple one color reproduction through sophisticated multi-color printing. They serve a multitude of customers including the graphic design community, advertising agencies and Fortune 500 corporations nationwide. Proceeds of the facility were used to fund working capital needs.

“The printing industry is highly competitive. Printing requires substantial capital investment in new technology to remain competitive. MB Business Capital knows the printing industry and we were able to facilitate a solid solution that will enable LCP to realize their plan for sustainability and future growth, ” says Michael Sharkey, President of MB Business Capital.

Rob Hilliard, CFO of LCP, Inc. said, “At every phase of the process the people that we worked with at MB Business Capital were extremely knowledgeable. Additionally they worked with us to ensure that we had the proper facilities and structure in place. The same holds true for the MB Business Capital staff that we have worked with on a post close basis as well.”

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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