Huntington Business Credit closed a new $10.5 million credit facility with Midwest Iron and Metal Company.
Midwest Iron and Metal Company, located in Dayton, OH, is involved in the collection, processing and resale of ferrous and non-ferrous scrap metals. The company is owned by Merit Capital Partners, a private equity firm based in Chicago. Midwest Iron and Metal Company used the proceeds of the facilities to refinance existing debt and to provide ongoing working capital growth financing.
Huntington Business Credit provides working capital and term loan facilities to middle market companies for acquisitions, LBOs, MBOs recapitalizations, rapid growth, seasonal working capital build-up and turnaround situations.
