FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


MidCap Business Credit Closes $10MM Credit Facility for Forged Components

May 24, 2017, 08:00 AM
Filed Under: Manufacturing

MidCap Business Credit announced that it has completed a $10 million Asset Based Credit Facility to Forged Components, Inc. Headquartered in Humble, TX, Forged Components is a global leader in forging, machining, and the manufacturing of integral self re-enforced connections for pressure nozzles and flanges.  The opportunity was sourced out of MidCap’s regional office in Houston, TX. 

Karl Lyons, President of Forged Components, Inc., said “This financing has allowed Forged Components Inc. to acquire a major competitor, which will result in an ability to increase our manufacturing capacity by 50% or more.” 

MidCap Business Credit provides asset based credit facilities to small and middle market businesses nationwide, who have borrowing requirements from $1MM to $10MM.  

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.