PTC Group Holdings, a manufacturer of welded and DOM steel tubing and related products has finalized an agreement with JPMorgan Chase under which Chase will provide a $65 million secured loan facility. In addition, PTC announced that affiliates of Black Diamond Capital Management, the company’s private equity sponsor, has made an additional investment of $10 million.

The two transactions significantly increase PTC’s liquidity, and provide the company flexibility to expand on its leadership position in the DOM tubing market. The financing involves only PTC’s profitable specialty tubing and chrome bar business, which consists of eight manufacturing facilities in Western Pennsylvania and the Midwest.

Curt Solsvig, CEO of PTC said, “We are very excited to be working with JPMorgan Chase, and appreciate Chase’s and Black Diamond’s confidence in PTC. We look forward to partnering with both of them to further improve PTC’s profitability and accelerate our growth.”

Christopher W. Parker, PTC’s chairman of the board and senior managing director at Black Diamond Capital Management added that, “The new facility with Chase and incremental $10 million investment positions PTC well for the future. Black Diamond continues to be enthusiastic about our investment in the Company, and looks forward to working with Chase and PTC’s management team on a variety of growth-oriented initiatives.”