GemCap funded an $11 million loan facility to LB Metals, a processor of strip mill plate. The company forges metal parts for a variety of industries, including construction, railroads and utilities. The facility is secured by inventory, accounts receivables and equipment.

LB Metals, formerly LB Steel, recently emerged from Chapter 11 reorganization, preserving more than 200 workers’ jobs in Illinois.

“We’re looking forward to not only saving, but growing, this business as manufacturing in North America continues to expand,” said Todd DiBenedetto, principal of the new organization. “We have talented and skilled team members who serve an extremely important part of the manufacturing economy.”

GemCap provides senior-secured, commercial asset-based loans to low and middle market businesses within the U.S. and Canada, as well as in-transit inventories en route to the U.S.