Pacific Mercantile Bank provided a $9.75 million credit facility to Cambelt International, along with a full suite of the bank’s depository products and treasury management services.
Cambelt International is a supplier of conveying equipment and bulk materials handling products to, among others, the mining, chemical processing, cement, transportation, pulp and paper, metals, rubber and hazardous waste disposal sectors. Founded by David R. Campbell, Cambelt has grown from a relatively small manufacturer of high incline, totally enclosed Cambelt conveyor systems to a recognized leader in the field of manufactured bulk materials handling equipment.
Cambelt was referred to Pacific Mercantile Bank by its private equity sponsor, Five Crowns Capital, which recently acquired the company.
“Cambelt International is committed to providing exceptional value, producing innovative designs and building long-term customer relationships to become a trusted supplier to many industries that require high quality, reliable conveying equipment,” said David McReynolds, managing partner at Five Crowns Capital. “Pacific Mercantile Bank’s experience working with private equity sponsors and manufacturing companies enabled their team to efficiently conduct their due diligence and put together a credit facility that met the needs of all parties. The credit facility facilitated our investment in the company, while also giving Cambelt the financing needed to continue growing the business and creating value for its stakeholders.”
“We appreciate Five Crowns Capital providing us the opportunity to work with their firm and Cambelt International on this transaction,” said Zach Martin, senior vice president at Pacific Mercantile Bank. “We look forward to supporting Cambelt in the future and helping it achieve further financial success.”
