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MB Business Capital Provides $7.37MM to Wexco Incorporated

October 16, 2014, 07:47 AM
Filed Under: Manufacturing

MB Business Capital, a division of MB Financial Bank, N.A., announced it has provided a $7.37 million senior credit facility for Wexco Incorporated and its operating subsidiaries, Fox Pool Corporation and Marquis Corp.

“We are happy to partner with MB Business Capital, the management team extremely knowledgeable and easy to work with,” stated Jeff Kurth, President of Wexco Incorporated. “They are a good fit for our business as they understand the seasonality of our company and structured the terms of our facility to enable us to address our needs. We look forward to a long and successful relationship.”

Wexco Incorporated, founded in 1986, is an employee-owned holding company headquartered in York, Pennsylvania. Proceeds of the new MB Business Capital financing were used to refinance existing debt and fund ongoing growth and working capital needs.

Fox Pool, founded in 1957, is a manufacturer of swimming pools, pool liners, and related accessories. Marquis, founded in 1980, is a leading designer and manufacturer of hot tubs and spas. Fox Pool and Marquis have distribution channels throughout the United States and Canada.

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.

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