MB Business Capital provided a new $23 million senior credit facility to NRP Jones, a manufacturer of hydraulic, industrial and oilfield hoses, fittings and assemblies for both OEMs and distributors. The facility was used to refinance existing senior indebtedness and will fund working capital needs going forward.
Founded in 1945 and based out of La Porte, IN, NRP is a portfolio company of Houston-based Main Street Capital.
“We are very happy to begin a new relationship with Main Street and NRP. MB Business Capital is very proud of our ability to provide creative and comprehensive financing solutions to our valued key partners and their portfolio companies. We brought several creative ideas to the company to maximize the available debt at close,” said Michael Sharkey, president of MB Business Capital.
“NRP is excited about the senior debt structure MB has put into place for us. It gives us working capital and capex financing to grow the business and increases our cash flow due to the lower cost of capital. We look forward to growing our business with MB Business Capital as our financial partner,” said Michael Lapczynski, CFO of NRP.