MB Business Capital announced it provided a new $25 Million senior credit facility to Fort Worth, Texas based Anchor Fabrication. Anchor Fabrication is a full service metal fabrication business that serves the rail, industrial, heavy truck, oil and gas, and the logistics industry.
Proceeds of the facility were used to facilitate the acquisition of Abby Manufacturing, and to fund ongoing growth initiatives and working capital. Abby Manufacturing, based in Walnut, MS is a metal fabrication business operating with three facilities in Mississippi. Abby primarily serves the elevator, defense and ground support equipment markets.
Spell Capital Mezzanine Partners based in Minneapolis, provided subordinated debt for the transaction.
“We have completed several transactions with the MB Business Capital team and they never disappoint. Their proactive thinking, quick turn around and detailed follow through are why we continue to partner with them” said Andrew Leonard, managing director of Spell Capital Mezzanine Partners. “The circumstances of this particular deal required a lender that was able to respond quickly to changes and navigate various structuring complexities, and MB Business Capital was the perfect fit. They were able to close quickly and with a competitive structure.”