MB Business Capital Announces a $6 Million Funding for Avantech Testing Services
Posted: 2014-10-28
Source:
PR Web
MB Business Capital, a division of MB Financial Bank, N.A., is pleased to
announce it recently provided a $6,000,000 Senior Revolving Credit Facility for
Houston, Texas based Avantech Testing Services, LLC. The company is a full
provider of non-destructive testing ("NDT") services and equipment primarily for
the oil and gas industry. Avantech NDT service offerings cover the entire oil
country tubular goods market consisting of drill pipe, casing and tubing
products used in oil and gas production. The NDT services are performed onsite
at either the well head (drilling location) or at the mill. Proceeds of the facility
were used to refinance existing debt and fund ongoing working capital.
Avantech is a portfolio company of LaSalle Capital ("LaSalle"), a private equity
firm located in Chicago, Illinois with extensive experience in the lower middle-
market. LaSalle currently manages two funds totaling over $330 million in
capital. The LaSalle team has deep experience in partnering with management
teams to grow and develop small businesses. The firm leverages its industry
expertise to provide strategic, financial and operational focus to companies to
promote growth organically and through acquisitions.
About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a
commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks
asset based lending opportunities in the $50 million to $50 million range and is
offering dedicated syndication opportunities of up to $100 million. The firm can
also provide access to the full range of business banking products and services
offered by MB Financial Bank.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial Inc. is the Chicago-based holding company for MB Financial Bank,
which has approximately $15 billion in assets and a more than one hundred year
history of building deep and lasting relationships with middle-market companies
and individuals. MB offers a full range of powerful financial solutions and the
expertise and experience of bankers who are focused on their clients’ success.
announce it recently provided a $6,000,000 Senior Revolving Credit Facility for
Houston, Texas based Avantech Testing Services, LLC. The company is a full
provider of non-destructive testing ("NDT") services and equipment primarily for
the oil and gas industry. Avantech NDT service offerings cover the entire oil
country tubular goods market consisting of drill pipe, casing and tubing
products used in oil and gas production. The NDT services are performed onsite
at either the well head (drilling location) or at the mill. Proceeds of the facility
were used to refinance existing debt and fund ongoing working capital.
Avantech is a portfolio company of LaSalle Capital ("LaSalle"), a private equity
firm located in Chicago, Illinois with extensive experience in the lower middle-
market. LaSalle currently manages two funds totaling over $330 million in
capital. The LaSalle team has deep experience in partnering with management
teams to grow and develop small businesses. The firm leverages its industry
expertise to provide strategic, financial and operational focus to companies to
promote growth organically and through acquisitions.
About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a
commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks
asset based lending opportunities in the $50 million to $50 million range and is
offering dedicated syndication opportunities of up to $100 million. The firm can
also provide access to the full range of business banking products and services
offered by MB Financial Bank.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial Inc. is the Chicago-based holding company for MB Financial Bank,
which has approximately $15 billion in assets and a more than one hundred year
history of building deep and lasting relationships with middle-market companies
and individuals. MB offers a full range of powerful financial solutions and the
expertise and experience of bankers who are focused on their clients’ success.
