Daily News: August 9, 2017

BofA Business Capital Provides ABL Revolver to Thalheimer Brothers

Bank of America Business Capital provided an asset-based revolving credit facility to Thalheimer Brothers. Proceeds will be used to refinance existing debt and to provide ongoing working capital financing to support their short- and long-term growth initiatives.

Thalheimer Brothers, a portfolio company of Audax Group, is a nonferrous scrap metal processor of brass, copper, nickel alloy and stainless steel. The business began in 1939 in Philadelphia as a family operation primarily handling copper bearing residues for brass foundries in the region.

“Bank of America Merrill Lynch is pleased to provide an ABL solution to Thalheimer Brothers that supports their immediate and long-term growth goals. Thalheimer is an established company within the scrap metal market with an experienced management team, and we look forward to helping their team continue their success,” said Seth Benefield, marketing manager for the Eastern Division of Bank of America Business Capital.