MB Business Capital provided a new $15 million senior credit facility to San Francisco-based Green Creative, a solid state lighting development and manufacturing company that offers a comprehensive line of high-performance LED lighting solutions.

Proceeds of the facility were used to assist Merit Capital Partners and Fulton Capital purchase the company, refinance existing debt and fund working capital needs.

Green Creative is a portfolio company of private equity group, Merit Capital Partners based in Chicago. Merit Capital Partners has raised $1.7 billion through five institutionally-sponsored limited partnerships.

Merit invests mezzanine and equity capital in middle-market companies principally in manufacturing, distribution and services industries.

Fulton Capital is a Northbrook, IL-based private equity firm. Fulton specializes in acquiring small and mid-sized companies typically with revenues between $20 million and $100 million.

“LED has overtaken halogen and CFL as the fastest growing bulb replacement for incandescent. As Green Creative grows to accommodate LED demand they need a financial partner that can react quickly to their financial needs. MB Business Capital was able to create a flexible facility in a very short time-frame that will support their plan for growth.” said Michael Sharkey, president of MB Business Capital.

Joe Polaneczky, vice president of Merit Capital Partners said, “We are pleased to be working with the team at MB Business Capital. They are committed to understanding the needs of the business and have been a supportive partner throughout the process.”