PRV Metals, a recently formed portfolio company of Platte River Ventures, announced that it had acquired 100% of the outstanding stock of TechSpec. Fifth Third Bank provided the senior debt financing for the transaction.
The Baltimore Sun reported GE Capital said the company remains “optimistic” that a solution can be reached with a Maryland steel mill after Governor Martin O’Malley asked Jeffrey Immelt to reconsider GE’s decision to freeze some of R.G. Steel’s funds.
American Guard Services (AGS) has obtained a $10 million working capital revolving line of credit to fund expansion and growth. Lawrence Financial Group of Los Angeles introduced AGS to its new lender.
According to the Small Business Administration, small businesses received a greater volume of SBA-backed loans last year than ever before. Under the program, a record sum of $19.6 billion was issued in fiscal 2011.
Neoprobe Corporation said that specialty finance company Hercules Technology Growth Capital will provide up to a total of $10 million in debt financing, which includes the issuance of warrants to purchase shares of Neoprobe common stock.
Economic activity in the manufacturing sector expanded in December for the 29th consecutive month, and the overall economy grew for the 31st consecutive month, said the nation’s supply executives in the latest Manufacturing ISM Report On Business.