MB Business Capital acted as sole lender and administrative agent on the funding of a $10 million senior credit facility for Ross Technology.
Formed as a veteran-owned small business in 1962 and based in Leola, PA, Ross is a metal fabrication company specializing in architectural security, including blast-proof windows and doors used in U.S. embassies and other high-profile, high-security buildings; perimeter security, including wedges and fencing; industrial security, including heavy-duty cantilever racks; and “Safety Works,” which is a patented technology for slip-resistant flooring.
Ross plans to use the MB facility to refinance senior indebtedness and fund working capital needs going forward.
“MB Business Capital was able to provide Ross with a flexibly structured facility that met their financing needs. We are very happy to welcome them to MB,” said Michael Sharkey, president of MB Business Capital.
“MB was very flexible in tailoring a credit facility to meet our needs,” said Gary Brown, chief financial officer of Ross Technology. “They provided the additional liquidity we needed to support our business growth.”
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago. The division seeks asset based lending opportunities in the $5 million to $50 million range and offers dedicated syndication opportunities of up to $100 million.
