Midcap Business Credit closed a $2 million ABL facility for Pavement Corporation, a portfolio company of Baltimore-based Vicour and Spring Capital Partners.
Headquartered in Waldorf, MD, Pavement Corporation provides infrastructure asset management and maintenance services for exterior hard surfaces consisting of parking lots, public and private roadways, runways, and parks to commercial and governmental customers in the Mid Atlantic area.
“We are excited to work with Vicour and Spring Capital Partners. We were able to structure a flexible working capital solution to assist the business in meeting their financial objectives,” said Bruce Pavesich, senior vice president of MidCap Business Credit.
