Daily News: August 26, 2016

Medallion Business Credit Funds Over $20MM in 12 Months


Medallion Business Credit funded transactions of more than $20 million to lower middle market companies involved in steel, specialty finance, seafood and other various industries over the last 12 months.

Medallion also provided around $10 million in ongoing accommodations to borrowers over the same period of time.

Highlights of the transactions were:

  • $6 million to a frozen hors d’oeurves manufacturer enabling it to buy a division from a leading U.S. kosher brand
  • $7 million to a steel service center for a leveraged buyout, which allowed the business to remain a family-run entity
  • $6.5 million to a privately held consumer finance company involved in the elective medical procedure space received $6.5 million for growth capital
  • $2 million to a luxury real estate auction company
  • $2 million, with an accordion feature to $5 million, to a dental laboratory for the roll-up of multiple dental laboratories
  • $1 million line for growth to a staffing company specializing in health providers
  • $1 million line increase with a new inventory sub-limit for a designer and distributor of pre-fab wall separators
  • $2.3 million line increase, $1.5 million inventory sublimit increase and a $300 million term loan to a kosher food distributor
  • $1.5 million line to support growth at a wholesale and retail lumber distributor
  • $2 million line to a food and dietary services provider for nursing homes and a $500 million facility increase to a rollform manufacturer