Daily News: October 25, 2017

MB Business Capital Provides $9MM Facility for Metpar

MB Business Capital provided a new $9 million senior credit facility to Metpar, a Westbury, NY-based manufacturer and worldwide distributor of commercial bathroom partitions.

MB’s credit facility was used to refinance existing senior indebtedness and will fund working capital needs going forward.

Metpar’s products are found in high use public structures such as schools, government buildings, sports and entertainment venues, office buildings as well as shopping centers.

Metpar is a portfolio company of New Castle Partners, a Greenwich, CT-based private investment firm that invests in and acquires successful, middle market operating companies in partnership with management.

“We welcome New Castle Partners and Metpar to MB. We appreciate the relationships we have with our valued key partners like New Castle and we look forward to working together,” said Michael Sharkey, president of MB Business Capital.

“MB’s focus on the lower middle market was a great fit for Metpar. We were all pleased with the manner in which the MB team met expectations at every step along the way to closing the deal,” said Jack Lowden, chairman of Metpar and president of New Castle Partners.