MidCap Business Credit closed on a $15 million asset-based credit facility for Foundation Food Group, which provides the food industry with a variety of poultry products
The opportunity was sourced out of MidCap’s regional office in Atlanta.
“Working with the professionals at B. Riley Advisory Services and Foundation Foods allowed MidCap to underwrite a complex transaction and provide real business solutions during these turbulent times. We look forward to working with Foundation Foods as they continue their commitment to deliver the highest quality poultry products available in the country.” Rusty Bramlett, senior vice president of MidCap Business Credit, said.
“We were introduced to MidCap Business Credit by B. Riley Advisory Services while working to secure financing which would facilitate the merger of two companies and consolidate their respective debt instruments. The MidCap team worked with us to identify creative solutions to both consolidate and expand our working capital line of credit, securing the merger and accommodating future growth of the company. Foundation Food Group appreciates the opportunity to partner with MidCap Business Credit and looks forward to a successful business relationship,” Kathy Ford, CFO of Foundation Foods, said.
MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses with borrowing requirements from $2 million to $20 million.
