Daily News: July 26, 2012

FirstMerit Bank Business Credit Closes Two Transactions


FirstMerit Bank Business Credit announced it completed two transactions totaling $43 million to Truck Bodies and Equipment International and Sea-Land Chemical Co.

FirstMerit Bank Business Credit closed a new $23 million revolving credit loan and term loan facility to Truck Bodies and Equipment International on June 15, 2012. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital. Truck Bodies and Equipment International is a portfolio company of Kirtland Capital Partners.

Truck Bodies and Equipment International, headquartered in Lake Crystal, MN, is a manufacturer of dump truck bodies, hoists, and truck and trailer equipment.

FirstMerit Bank Business Credit also closed a new $20 million revolving credit loan facility to Sea-Land Chemical Co. on June 15, 2012. Proceeds of the facility were used to refinance existing debt and provide additional working capital.

Headquartered in Westlake, OH, Sea-Land Chemical Co. is a distributor of specialty chemical products.

FirstMerit Bank Business Credit provides working capital and term loan facilities to middle