MidCap Business Credit closed on a $5,000,000 asset-based credit facility for Premier Engineered Products, a portfolio company of Colfax Creek.  Through its operating subsidiary, Appalachian Cast Products, the company produces superior die cast parts and tooling, along with metal finishing and CNC machining through state-of-the-art machinery and processes. The business is headquartered in Abingdon, VA.
 
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 Colfax and Premier Engineered Products allowed MidCap to quickly underwrite this transaction and provide working capital to fund the business growth.  We look forward to working with Premier as they continue their commitment to delivering high-quality metal casting proudly “Made in America.”

Jason Duzan, Principal at Colfax Creek said, "MidCap's financing team moved quickly and were exceptional to work with. They proactively addressed any issues, ensuring a smooth and efficient process from start to finish when time was of the essence.”