Pacific Mercantile Bank provided a $2 million revolving line of credit along with depository products and cash management services to Silver Spur. Silver Spur’s private equity sponsor, Meridian General Capital, referred it to Pacific Mercantile.
Founded in 1978 and headquartered in Cerritos, CA, Silver Spur supplies specialty glass and plastic bottles and containers to the North American market. It serves the nutritional supplement, pharmaceutical, cosmetic, food, beverage, wine and auto industries with its own proprietary products in every size and shape of containers used in packaging customer products.
“With the resources provided by Meridian General, we have built upon the strong platform developed over the past 40 years to transform Silver Spur into a dynamic enterprise,” said Ravi Rao, executive chairman of Silver Spur and managing partner at Meridian. “Pacific Mercantile has been a valuable banking partner as we continue to scale the business. Their team was flexible in structuring a credit facility that will support our financing needs as we capitalize on our growth opportunities and further expand and diversify our product offerings.”
“We appreciate Meridian providing us with the opportunity to work with Silver Spur,” said Zach Martin, Pacific Mercantile senior vice president. “Silver Spur has built a strong reputation as a reliable supply chain partner and we look forward to helping the company achieve even greater success in the future.”
