Legacy Corporate Lending, an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, provided a $31 million asset-based credit facility to Shapiro Metals, a family-owned, third-generation metals, aluminum scrap processor and aluminum ingot producer.
Shapiro selected Legacy to refinance its existing credit facility to create additional liquidity from a borrowing base supported by accounts receivable, inventory, machinery and equipment and real estate.
The transaction closed in Q3/25.
“In the dynamic and ever-evolving industry that we operate in, finding a financing partner that is able to not only support our working capital requirements, but understand the month-to-month fluctuations that come with commodity products is crucial to the growth and success of our business,” Bruce Shapiro, CEO of Shapiro, said. “The Legacy team took a flexible, creative approach to structuring a credit facility that provided the additional liquidity we were looking for to grow the company.”
Clark Griffith, CEO of Legacy, said, “Being a trusted partner for family-owned businesses is a trademark of Legacy. Shapiro Metals Company’s long history speaks volumes for the mark the company has made on the industry, and we are proud to support their mission and business needs. We look forward to a lasting partnership with Bruce and the Shapiro team and supporting the company’s ongoing growth.”
