GB Merchant Agents $30 Million Term Loan to Schuff International
The Debt Investment Group of GB Merchant Partners, the investment management affiliate of Gordon Brothers Group, acting as agent, announced the completion of a $30 million term loan to Schuff International Inc. This loan will be supported by the company’s assets, specifically real estate. Schuff International is a steel fabrication and erection company in the United States.
“The financing from GB Merchant Partners allowed us to take an opportunity to purchase, at a favorable price, stock from two major shareholders, and thereby, increasing stockholder value,” stated Mike Hill, CFO of Schuff International.
“We are pleased to support the company and provide the liquidity needed to allow Schuff to execute its strategic agenda,” added Gary Prager, managing director, GB Merchant Partners. “We feel Schuff is uniquely positioned to take advantage of improving economic trends in 2012.”
Founded in 1976, Schuff International has experienced substantial growth, performing projects throughout the country. Schuff offers integrated steel construction services from a single source including design-build, design-assist, project management, and single-source steel management systems.
The Debt Investment Group of GB Merchant Partners, the investment management affiliate of Gordon Brothers Group, originates, structures and invests in private market debt.