MB Business Capital provided a new $5.5 million senior credit facility to Madera, CA-based Sinbad Foods as part of an acquisition by Evanston Partners and management.

Illinois-based private equity firm Evanston Partners acquired the assets of Rain Creek Baking from Kronos Foods and created the new company Sinbad Foods. Sinbad produces baklava and other handcrafted fillo dough-based products under the Sinbad brand as well as under private label to the retail, club and foodservice channels.

MB’s credit facility was used to support the acquisition and to fund capital expenditure and working capital needs going forward.

“MB Business Capital knows the food industry and we couldn’t be more pleased to welcome Sinbad Foods and Evanston Partners to MB,” said Michael Sharkey, president of MB Business Capital.

“We are thrilled to be working again with the terrific teams at Rain Creek Baking Company and MB Business Capital,” said William V. Glastris, Jr. of Evanston Partners. “MB provided us with a financing package that made all the difference in this transaction. The team worked with us under a compressed timeline to understand the seasonality, customer ordering patterns and near term capital expenditure needs and delivered exactly what they promised – with certainty to close.”