MidFirst Business Credit (MFBC) provided working capital and term facilities to Cooney Brothers LLC (“Cooney Bros”). Headquartered in Plymouth Meeting, PA, Cooney Bros is a distributor of pipe, valves and fittings, and other custom welded piping products for OEMs and for use in the pharmaceutical, food & beverage, power generation, marine, chemical and plastics industries.
The funds were used to fund the acquisition of the business by V&A Capital, a leading lower middle market investment firm, from the founding family and to provide additional working capital to help facilitate further business expansion.