FirstMerit Bank Business Credit Provides $37MM in Facilities
FirstMerit Bank Business Credit said it recently closed two credit facilities totaling $37 million.
The company closed a new $30 million revolving credit loan facility to Anco Steel Company. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital. Anco Steel, headquartered in Naperville, IL, supplies steel piping, angles, plate, beams and rebar for various industries located throughout the United States.
FirstMerit Bank Business Credit also closed a new $7 million revolving credit loan facility to Consolidated Glass Holdings. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital. Consolidated Glass Holdings is a portfolio company of Grey Mountain Partners, a Colorado-based private equity firm, and is engaged in the security, custom and architectural glass and metal fabrication business.