MidCap Business Credit completed a $5 million asset-based credit facility for Crozier Welding. Founded in 1980 and headquartered in Coshocton, OH, Crozier Welding specializes in the design and manufacturing of oil and gas production equipment.
MidCap Business Credit completed a $15 million asset-based credit facility for Walker Midwest and Walker West, which were formed to acquire the assets of Millenia Products Group and WAC pursuant to an Article 9 UCC sale.
MidCap Business Credit completed a $2.5 million asset-based credit facility to Pennsylvania-based UG Plast, a manufacturer of multi-wall polycarbonate, solid polycarbonate and corrugated polypropylene sheets.
MidCap Business Credit, serving as administrative agent in conjunction with CNH Finance, has completed a $25 million asset-based credit facility for Alfred Nickles Bakery.
MidCap Business Credit completed a $7.5 million revolving credit facility for Wescon Plastics. The facility was used to refinance the company’s existing senior debt and to support the company’s growth plans and working capital needs.
MidCap Business Credit has appointed Bruce Pavesich to senior vice president of its business development team. Pavesich, most recently with Crestmark Bank, has spent the last 30 years in asset based finance.
Crestmark announced the addition of Bruce Pavesich as regional first vice president, BDO who will work as part of the company’s growing East division. Pavesich was previously with Keltic Financial.