Daily News: April 26, 2017

MB Business Capital Provides New $13MM Credit Facility for Oberfields

MB Business Capital provided a new $13 million senior credit facility to Delaware, OH-based Oberfields as part of the company’s acquisition by Graycliff Partners and management.

Founded in 1961, Oberfields is a manufacturer and distributor of a broad range of concrete masonry and hardscape products, including architectural block, retaining walls, pavers, precast products and accessories. The company delivers product throughout Ohio and parts of Indiana, Kentucky, Pennsylvania and West Virginia. MB’s credit facility was used to support the acquisition of Oberfields and to fund capital expenditure and working capital needs going forward.

Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the U.S. and Latin America. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions.

“We welcome Oberfields to MB Business Capital. We value our strong working relationship with the Graycliff team and are excited to assist in the acquisition of this growing Ohio-based company,” said Michael Sharkey, president of MB Business Capital.