North Mill Capital provided a $12.9 million credit facility to Devault Packing.
The funding consisted of a $10 million asset-based lending credit facility, which encompassed both accounts receivable and inventory, and a $2.9 million equipment term loan.
The company used the funds for working capital and to pay off its previous lender.
Headquartered in Malvern, PA, Devault Packing, doing business as Devault Foods, is a meat processor specializing in the sale of beef to the fast food, restaurant and food services industry.