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MB Business Capital Inks $10MM Credit Facility for Specialty Steel

August 01, 2018, 08:01 AM
Filed Under: Steel

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $10,000,000 senior credit facility to Houston, Texas-based Specialty Steel Supply, LLC (Specialty). Specialty is a distributor of stainless and nickel alloy steel bars to the oilfield, energy, aerospace, defense, industrial, and automotive sectors. MB’s credit facility was used to refinance senior indebtedness and to fund working capital needs going forward.
“MB Business Capital knows the metal industry very well and we were able to provide a lending facility that provides Specialty with the capital it needs. We are very happy to welcome Specialty Steel to MB,” said Michael Sharkey, President of MB Business Capital.
“We are pleased to partner with MB. Their experience in the metals industry made it a stress-free transaction and will enable us to continue with our rapid growth since acquiring the company from Carpenter Technologies,” said Paul Haggar, President of Specialty Steel Supply, LLC.

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