MidCap Business Credit closed a $16 million asset-based credit facility to E.R. Wagner Manufacturing Company, which has locations in Menomonee Falls, WI, and Chicago. E.R Wagner is a family-held business that manufactures metal hinges and stampings, tubular components, casters and wheels that are sold primarily into the industrial and automotive industries.
The new relationship was sourced and closed out of MidCap’s headquarters in West Hartford, CT.
“We were able to structure a flexible asset based credit facility with advances against receivables, inventory, equipment, and real estate,” Seth Cooper, senior vice president at MidCap, said. “The additional liquidity we were able to provide will allow the company to execute on their strategic plan and achieve their financial objectives. We look forward to working with team at E.R Wagner and Promontory Point Capital, who acted as the investment bank on the transaction.”
