Daily News: April 5, 2018

MidCap Business Credit Provides $7.5MM Revolver to Wescon

MidCap Business Credit completed a $7.5 million revolving credit facility for Wescon Plastics. 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 Wichita, KS, Wescon is a privately held plastic injection molding manufacturer. It is a portfolio company of Nova Capital Management, a lower middle market private equity investor.

“We are excited to work with Nova Capital Management and their portfolio company Wescon,” said Bruce Pavesich, senior vice president of MidCap. “We were able to deliver a credit facility with a flexible structure that will allow Nova and Wescon to address their current financing needs as well as meet their future financial objectives. We also want to thank Rush Street Capital who was the Intermediary on the transaction.”