Eclipse Business Capital Provides $125 Million In Financing To An Integrated Steel Manufacturer
Chicago, IL – April 18, 2022 – Eclipse Business Capital (“EBC”) announces the completion of a revolving credit facility for a vertically integrated manufacturer of steel products. The credit facility is used to refinance existing bank indebtedness and to provide ongoing working capital financing. This new revolver from Eclipse will provide needed liquidity to allow the company to capitalize on its strong market position and technical expertise.
Jeffrey Stein, Chief Restructuring Officer for the company, commented: “EBC’s speedy execution of this transaction, coupled with its flexible approach, provided the borrower with the necessary liquidity and working capital needed to continue is operational and performance turnaround.”
Martin Battaglia, Chief Executive Officer, Eclipse Business Capital said: “We are excited to partner with this company and its management team to provide needed liquidity and working capital to allow them to grow and capitalize on their excellent market position and technical expertise. We believe that these combined capabilities set the stage for their success in further integration and continuing strong performance.”
About Eclipse Business Capital:
Originally founded in 2016, EBC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries. The firm provides revolving lines of credit and term loans ranging in size from $10 million to $150 million that are primarily reliant on collateral such as accounts receivable, inventory, equipment and real estate.
Since inception, EBC has funded more than 77 transactions totaling well over $2.0 billion in credit facilities. EBC has an experienced team of 48 professionals, located in Chicago, Boston, New York, Connecticut, Los Angeles, San Francisco, Houston, Charlotte and Fort Lauderdale and provides financing to middle-market borrowers domiciled in the U.S. and Canada.