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MB Business Capital Provides $10MM Facility to Gemstone Foods

January 20, 2016, 07:57 AM

MB Business Capital recently provided a new $10 million senior credit facility to Decatur, Alabama based Gemstone Foods, LLC. Gemstone Foods, LLC, provides a wide array of custom and specialty poultry processing services tailored to the unique requirements of each client. Services include the custom sizing, portioning, packaging, and/or further processing of poultry and poultry-related items. Gemstone services some of the nation’s leading food companies supporting their retail, institution, and foodservice customers. Proceeds of the facility were used to refinance existing debt and to fund working capital needs.

Gemstone Foods is a portfolio company of Jackson, Mississippi based Jamas Capital Management. Jamas Capital is a private investment firm that manages investments in and sponsors private companies, in a variety of businesses – including construction, real estate development, oil and gas services, domestic and international manufacturing, distribution, agri/food and opportunistic investments.

“As more and more American consumers demand high quality protein in their diet there is more and more focus on food safety and quality in the poultry processing industry. Gemstone Foods uses science based quality management, food safety programs and tools to provide it’s customers with a top-notch product and service. We look forward to working with Gemstone and Jamas Capital and helping them achieve their current and long-term goals.” says Michael Sharkey, President of MB Business Capital.

“MB Business Capital made the time to review Gemstone’s capital needs providing a structure that meets both short-term and long-term goals.  We look forward to working with MB Business Capital’s team.” says Beau F. Lee, Director of Finance of Jamas Capital Management.

MB Business Capital is the asset-based lending division of MB Financial Bank, a commercial bank headquartered in Chicago.  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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