Daily News: March 28, 2018

MidCap Business Closes $7MM Facility for Unipower

MidCap Business Credit completed a $7 million revolving credit facility for Unipower, a manufacturer and distributor of critical DC power systems and solutions. The facility was used to refinance the company’s existing senior debt and to support the company’s growth plans and working capital needs.

Headquartered in Coral Springs, FL, Unipower is a portfolio company of JMC Capital Partners, a lower middle market private equity investor.

“We are excited to work with JMC Capital and their portfolio company Unipower. We were able deliver a credit facility with a flexible structure that will allow JMC Capital and Unipower to address their current financing needs as well as meet their future financial objectives,” said Seth Cooper, senior vice president of MidCap Business Credit.

MidCap Business Credit provides asset-based credit facilities to small and middle-market businesses who have borrowing requirements from $2 million to $15 million.