Daily News: May 23, 2018

Sterling Provides $5.7MM LCP Machine Facility to Support Acquisition


Sterling National Bank provided credit facilities totaling $5.7 million to LCP Machine to support its acquisition by White Wolf Capital.

In addition to the acquisition, the facility will also be used by the company to expand its business, which is currently working at full capacity.

This deal was sponsored by White Wolf Capital, an operationally focused private equity firm based in Miami.

LCP Machine was sourced by Jan Hanssen, an originator in Sterling’s Los Angeles office.

Founded in 2003, LCP Machine is a full-service CNC machine shop, manufacturing precision components and servicing a wide spectrum of companies in multiple industries including, medical, aerospace, energy and defense.