Siena Lending Group completed a three-year $10 million asset-based revolving credit facility for Specialty Steel Supply to assist in the execution of former and current management’s buyout of the business and to provide additional working capital.

Houston-based Specialty is a distributor of specialty stainless steel round bar to a myriad of industries, including automotive, oil and gas, aerospace and defense, maritime and industrial.

Paul Haggar, CEO and president of Specialty Steel Supply, said, “We are excited to offer our clients the flexibility of a standalone company and still offer the full Cartech product line. We thank Siena Lending Group for guiding us through this process.”