UG Plast, Inc.

MidCap Business Credit Closes New $2,500,000 Credit Facility

MidCap Business Credit announced today that it has completed a $2.5 million Asset Based Credit Facility to UG Plast, Inc.  Headquartered in York, PA , UG Plast , Inc.  is a manufacturer of multi-wall polycarbonate, solid polycarbonate, and corrugated polypropylene sheets selling to distributors.  These distributors serve construction, printing display, sign, medical, industrial packaging, and OEM markets.

The opportunity was sourced out of MidCap’s regional office in Baltimore, MD.   Bruce Pavesich, Senior Vice President of MidCap Business Credit, LLC, said, “We were able to  structure a flexible Asset Based Line of Credit to expand the company’s existing vendor relationships and  provide additional liquidity.  We look forward to working with the company and helping them achieve their goals and grow the business.”

MidCap Business Credit provides asset based credit facilities to small and middle market businesses nationwide, who have borrowing requirements from $2MM to $20MM.

Foundation Food Group, Inc.

MidCap Business Credit Closes New $15,000,000 Credit Facility

MidCap Business Credit announced today they have closed on a $15,000,000 asset based credit facility for Foundation Food Group, Inc., headquartered in Gainesville, GA.   Through its state-of-the-industry processing facilities and production capabilities, Foundation Food Group provides the food industry with a variety of distinct, value-added poultry products with the highest quality standards.

The opportunity was sourced out of MidCap’s regional office in Atlanta, GA.  Rusty Bramlett, Senior Vice President of MidCap Business Credit, LLC, said, “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.

Kathy Ford, Chief Financial Officer of Foundation Foods 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.”

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $20MM.

CR Brands, Inc.

MidCap Business Credit Closes New $4,500,000 Credit Facility

MidCap Business Credit announced today they have closed on a $4,500,000 asset-based revolving line of credit for CR Brands, Inc., a portfolio company of Resilience Capital Partners, headquartered in West Chester Township, Ohio. CR Brands is an innovative consumer packaged goods company with a portfolio of affordable household cleaning and laundry products with superior performance qualities. Today, CR Brands enjoys national distribution and close customer relationships with many leading retailers.

The opportunity was sourced out of MidCap’s Dallas office.  Bill Nay, Senior Vice President of MidCap Business Credit said, “We were able to provide the company with a deal structure that allows them the flexibility they need to execute on their strategic plan and grow the business.  We look forward to working with the team at CR Brands.”

Ki Mixon, Partner with Resilience Capital added, “Midcap did a great job understanding the CR Brands story and putting together a solution that worked. The fact that they were able to underwrite, close and fund a new line of credit in less than 6 weeks from the initial call during these crazy times is very impressive.”

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $15MM.

Allied Dairy Products, Inc.

MidCap Business Credit Closes New $14,000,000 Credit Facility

MidCap Business Credit announced today they have closed on a $14,000,000 asset based revolving line of credit for Allied Dairy Products, Inc. and subsidiaries, headquartered in Chatham, New Jersey.  Allied Dairy Products provides a variety of services in the dairy industry with its main subsidiary importing and distributing high quality cheeses and other dairy ingredients.

The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT.   Seth Cooper, Senior Vice President of MidCap Business Credit said, “We were able to provide the company with a deal structure which will allow them the flexibility they need to execute on their strategic plan and grow the business.    We look forward to working with the team at Allied Dairy.”

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $15MM.