Siena Lending Group completed a three-year $7 million senior secured credit facility for New Dalton Corporation. The facility will be used to finance Speyside Equity’s (majority owner) and Beckner Clevy Partners’ stock acquisition of Dalton Corporation and its operating subsidiaries from Neenah Enterprises.

Warsaw, IN-based New Dalton is a foundry for complex, heavy-cored, gray iron castings used in critical applications in the HVAC, power transmission, engine, heavy truck, agriculture and construction industries.

Jeffrey Stone, managing director of Speyside said, “We approached Siena because of the excellent experience on our acquisition of Pacific Steel Casting Company assets out of bankruptcy. We were confident that they could deliver the facility on an extremely expedited timeline to close.”

Michael Clevy, partner at Beckner Clevy added, “Siena Lending did a great job under an extremely aggressive time line. The due diligence and financial analysis on the Dalton business helped us focus on what we needed to do to get the transaction across the line in less than 30 days from engagement. We appreciate the time and attention to detail the Siena team devoted to this transaction. I know it required many elements of the deal to be done in parallel and lots of late night work.