MB Business Capital Closes Avantech Funding
MB Business Capital announced it recently provided a $6 million senior revolving credit facility for Houston, TX-based Avantech Testing Services. The company is a full provider of non-destructive testing (NDT) services and equipment primarily for the oil and gas industry. Avantech NDT service offerings cover the entire oil country tubular goods market consisting of drill pipe, casing and tubing products used in oil and gas production. The NDT services are performed onsite at either the well head (drilling location) or at the mill. Proceeds of the facility were used to refinance existing debt and fund ongoing working capital.
Avantech is a portfolio company of LaSalle Capital, a private equity firm located in Chicago, Illinois with extensive experience in the lower middle-market. LaSalle currently manages two funds totaling over $330 million in capital.
The LaSalle team has deep experience in partnering with management teams to grow and develop small businesses. The firm leverages its industry expertise to provide strategic, financial and operational focus to companies to promote growth organically and through acquisitions.