MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new senior credit facility to Las Vegas, Nevada-based Cole Kepro International, LLC (“CKI” or the “Company”). CKI is a designer, developer and manufacturer of high performance slot machine cabinets, kiosks, and other metal fabricated products and associated peripherals. With manufacturing facilities in North Las Vegas, Texas, and Taiwan, CKI offers a full range of services to all its customers with an emphasis on quality and value. MB’s credit facility was used to refinance existing senior indebtedness and will fund working capital needs going forward.
CKI is a portfolio company of The Anderson Group. Founded in 1985, The Anderson Group is an operationally oriented private equity investment firm focused on acquiring control positions in companies at the lower end of the middle market. The Anderson Group specializes in three types of transactions: turnaround opportunities, special situation investments, and recapitalizations. Though Anderson does not have a specific industry focus, it typically acquires businesses in the niche manufacturing, distribution, or service industries. The Anderson Group is not an institutional fund; rather, it invests its own committed pool of capital. As such, Anderson is able to avoid investment approval processes, mandates, and holding periods. Thus, Anderson can offer a faster approval/transaction process, certainty to close, flexibility in equity ownership, and an ability to invest throughout the capital structure that other firms and funds often cannot do.
“We are so pleased to welcome the Anderson Group and their portfolio company CKI to MB Business Capital. The MB team delivered a lending facility with flexible covenants and a structure that will allow Anderson and CKI to address their current needs as well as future opportunities,” said Michael Sharkey, President of MB Business Capital.
“We appreciate the speed, diligence, flexibility and focus provided by the entire MB Business Capital team,” said Frederick Cook, Chief Executive of CKI. “MB took the time to understand our unique needs and focused on a credit solution which works well for our companies.”