MB Business Capital provided a new $9.68 million senior credit facility to AMS Group and its affiliates.
Based in Fox River Grove, IL, AMS is comprised of a coil steel distributor, a manufacturer of mold bases, and a manufacturer, processor and distributor of steel strapping used in packaging of steel and other industrial products.
MB’s credit facility was used to refinance existing senior indebtedness and will fund working capital needs going forward.
“MB Business Capital knows the metal industry. With over 20% of our current portfolio in metal-related industries, we truly understand the challenges metal companies face. The MB team crafted a facility that gives AMS the liquidity they need so management can focus on production and revenues,” said Michael Sharkey, president of MB Business Capital.
“With our business having been through a variety of changes and facing numerous growth opportunities, we needed the right banking partner who understood our past and shared our vision for the future. MB Business Capital came through with a creative approach to providing us the liquidity and capital we needed and delivered in a tight timeframe. They closed what they proposed,” said Andy Sandberg, CEO and founder of AMS Group, Inc.
MB Business Capital is the asset-based lending division of MB Financial Bank, a commercial bank headquartered in Chicago. MB Business Capital seeks asset-based lending opportunities in the $5 million to $50 million range and offers dedicated syndication opportunities of up to $100 million.
