Bibby Financial Services is providing United Plastics Group (UPG), a Houston-based manufacturer of specialized plastic parts and complete finished goods for multiple industries, with an asset-based financing facility.

The funding allowed UPG owners, New York-based Turnspire Capital Partners, to support its investment in UPG and is secured by inventory, accounts receivable and other balance-sheet assets.

“Our creative funding options, knowledge of the manufacturing space and ability to provide funding against international assets were important to Turnspire Capital Partners. We have known and respected their principals for many years, and are delighted to have been selected by them to provide this credit facility,” said Barry Kastner, executive vice president and head of ABL at Bibby Financial Services.

“We appreciate that the BFS team took the time to understand our business goals so they could provide the kind of flexible financing that would allow us to support UPG’s organic and M&A growth down the road,” said Ilya Koffman, managing partner of Turnspire Capital Partners.