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MB Business Capital Announces Funding for Saran Acquisition

December 10, 2014, 07:40 AM
Filed Under: Industrial Products

MB Business Capital, a division of MB Financial Bank, N.A.,announced it recently provided a new senior credit facility to Indianapolis, IN based Saran Acquisition, LLC.  The company is a provider of industrial finishing and custom processing of forgings, castings and machined parts.  Proceeds of the facility were used to facilitate the acquisition of Saran Industries by Titan Equity Partners and to fund ongoing working capital.

Saran is now a portfolio company of Titan Equity Partners, a private equity firm located in Chicago, Illinois that serves the middle market. They seek investments in consumer product manufacturers, food manufacturers, specialty distributors and unique service providers.  Titan works with management to craft pro-active strategic plans. Titan Equity Partners recognizes management’s pivotal role in the value creation process and views it as essential that key managers participate meaningfully in the equity returns of the enterprise.

Victory Park Capital (VPC) provided term debt for the transaction.  VPC is a privately held registered investment advisor dedicated to alternative investing through the management of private investment funds focusing on middle market companies across a diversified range of industries. Founded in 2007, VPC is headquartered in Chicago with additional resources in Boston, London, Los Angeles, New York and San Francisco.

Anthony R. Pesavento, Managing Partner of Titan Equity Partners commented, “MB Business Capital may be the new name, but the team has the pedigree and professionalism to deliver thoughtful, flexible solutions for middle-market businesses.  We’re frequent borrowers and we consider our MB relationship to be one of our key business assets.”

Michael Sharkey, president of MB Business Capital said, “We are extremely pleased to have Titan Equity as one of our trusted Key Partners and Saran Acquisition as a new customer.  We really appreciate their focus on growth and we feel that MB Business Capital was able to provide not just financing, but a long term tailored solution that will enable them to achieve their immediate and long term goals.”

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. 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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