Daily News: December 14, 2016

MB Business Capital Provides $17.3MM Funding for HomTex

MB Business Capital, a division of MB Financial Bank, provided a new $17.3 million senior credit facility to Vinemont, AL-based HomTex, a family-owned company that manufactures bedding products.

Proceeds of the new credit facility were used to refinance existing debt and fund working capital needs to support continuing growth of the business.

The company sells directly to retailers and manufactures a wide variety of products under private brands and within their family of brands: FitRite, Dream Essence, Revive, Suprelle, Dream Living and DreamFit.

“HomTex was looking for a flexible financial partner that understood their day-to-day capital requirements. We were able to accommodate their requirements with a facility that meets not only their daily needs but their long-term objectives as well,” said Michael Sharkey, president of MB Business Capital.