MB Business Capital acted as sole lender and administrative agent on the funding of a $6.5 million senior credit facility for Farwest Operating.
Based in Moxee, WA, Farwest is a metal fabrication company specializing in sheet metal fabrication and CNC machining. The company manufactures and fabricates metal parts from flat to finish, serving customers in a variety of industries, including telecommunications, construction, medical, military and agriculture. Farwest is a portfolio company of OneAccord Capital.
OneAccord Capital is a lower-middle-market M&A advisory firm and private equity group headquartered in the Pacific Northwest. The firm serves the owners of family-owned and privately held companies and focuses on companies with EBITDA of $1 million and above in a variety of industries.
The credit facility was used to refinance senior indebtedness and to fund working capital needs going forward.
“We welcome Farwest to MB. We were able to facilitate a new ABL lending solution that gave the company the liquidity and flexibility that they needed to execute their plans,” said Michael Sharkey, president of MB Business Capital.
“We are pleased to have entered into this credit facility with MB. They understand the capital-intensive nature of our business and have responded with a credit facility that can grow with us over the next decade,” said Scott Smith, chairman of Farwest.
