MB Business Capital Announces $11.575 Million Credit Facility for 3P Processing
MB FINANCIAL (MBFI)
Last mb financial earnings: 10/24 04:02 pm
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Source: PR Web
CHICAGO (PRWEB) May 16, 2018 MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $11,575,000 senior credit facility to Wichita, Kansas-based 3P Processing, Inc. ("3P"). 3P is a full service provider of metal finishing, testing and inspection process services to the aerospace & defense sector, specializing in complex geometric and high-precision parts. MB's credit facility was used to fund the acquisition of 3P by Spell Capital Partners, LLC, ("Spell"), refinance existing senior indebtedness and fund working capital needs going forward.Spell is a Minneapolis-based private equity group that is engaged in the acquisition of controlling interests in well-managed, historically profitable industrial manufacturing businesses. They use their deep expertise in acquisitions and financing to collaborate with management and grow the businesses in which they invest – both internally and through add-on acquisitions."Spell and MB Business Capital have al
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