MB Business Capital provided a new senior credit facility to O.S. Walker Co and its affiliate, Walker Magnetics.
Walker Magnetics, a portfolio company of Philadelphia-based Alliance Holdings, designs and manufactures industrial magnetic products. Based in Worcester, MA, the company delivers its products to more than 190 countries.
Proceeds of the facility were used to refinance existing debt and to fund working capital needs going forward.
“We are very pleased to have MB Business Credit as our lender at Walker. MB provided a thoughtful and flexible capital structure for Walker and executed the transaction professionally and timely. The deal couldn’t have gone any smoother,” said Trish Papile, CFO of Alliance.
MB Business Capital is the asset-based lending division of Chicago-based MB Financial Bank.