Daily News: May 16, 2012

FirstMerit Bank Business Credit Closes Two Deals Totaling $22.5MM


FirstMerit Bank Business Credit (FMBBC) announced it closed a new $12.5 million revolving credit loan and term loan facility to Primary Packaging on April 18, 2012. Proceeds of the facility were used to partially finance the acquisition of Primary Packaging by Fields Ventures and provide ongoing working capital.

Primary Packaging, headquartered in Bolivar, OH, is a manufacturer of custom-designed heavy-duty polyethylene film and bags.

Additionally, FMBBC closed a new $10 million revolving credit loan facility to NW Sign Industries on April 20, 2012. Proceeds of the facility were used to refinance existing debt and provide additional working capital.

Headquartered in Moorestown, NJ, NW Sign Industries is a designer and manufacturer of custom signage used in the banking, retail, amusement parks, sporting arenas and other applications.