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TCFCF Provides $7.1MM to Support Mangrove’s Investment in Dixie Diamond

February 10, 2016, 07:50 AM
Filed Under: Manufacturing

TCF Capital Funding (TCFCF), a division of TCF National Bank which is a subsidiary of TCF Financial Corporation, announced it provided $7.1 million secured financing to support Mangrove Equity Partners’ investment in Dixie Diamond Manufacturing, Inc. 

Dixie Diamond is based in Lilburn, GA and is a manufacturer of consumable diamond blades and diamond core bits for use in road repair, infrastructure and commercial construction. For more than 40 years, they have been producing high-performance cutting tools using the most advanced production techniques and equipment along with the highest quality materials. 

“We are excited to expand our existing relationship with Mangrove Equity Partners by supporting its investment in Dixie Diamond with a senior secured credit facility.  The Company is well positioned in the infrastructure market place and has a great management team” said TCF Capital Funding Senior Vice President Ed Ryczek.

TCF Capital Funding provides cash flow and asset-based lending to lower middle-market businesses.  National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA. 

TCF is a Wayzata, Minnesota-based national bank holding company. As of December 31, 2015, TCF had $20.7 billion in total assets and 375 branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, South Dakota and Indiana, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing, equipment finance, and auto finance business in all 50 states and commercial inventory finance business in all 50 states and Canada.

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