Saving Shawnee Tubing: Oklahoma Lender and Business Community Rally to Save Local Factory

Since 1974, the Wolverine Tube factory cranked out copper tubing for industry and construction use from its Shawnee, OK plant. Last year, the Canadian owners decided to sell the factory, threatening more than 500 Shawnee jobs. Greg Gallman, the plant’s general manager, worked with local investors and bankers, the city’s Economic Redevelopment Foundation and MB Business Capital to save the business and renamed it Shawnee Tubing Solutions.

MB Business Capital Provides $24MM Facility for Shawnee Tubing

MB Business Capital provided a new $23.7 million senior credit facility to Shawnee Tubing Solutions as part of an acquisition of select assets from the borrowers’ previous parent Wolverine Tube.