MidCap Business Credit completed a $15 million asset-based credit facility to Walker Midwest, LLC and Walker West, LLC formed to acquire the assets of Millenia Products Group Inc., and WAC LLC, pursuant to an Article 9 UCC sale. The Company, headquartered in Itasca, IL, is a manufacturing and steel  service business providing metal fabrication, stamping and roll forming services to OEM leaders in the automotive, solar, tool storage and electronics industries throughout the US and Canada.

Frank San Roman, President/CEO stated, “It was a pleasure to work with the Midcap team. They went above and beyond to give us support in the transition. Our new lending facility  will allow us additional growth opportunity that our prior lender did not provide. This change is also going to improve our overall financing costs, while supporting the needs of the Company and its customers."

The opportunity was sourced out of MidCap’s regional office in Baltimore, MD. Bruce Pavesich, Senior Vice President of MidCap, said, "We were able to provide a flexible Asset Based Line of Credit to facilitate the asset purchase and provide the necessary working capital to enable the Company  to execute on its strategic plan. We look forward to working with Frank and his team and to provide future financing needs to grow the business.”

MidCap Business Credit provides asset based credit facilities to small and middle market businesses nationwide, who have borrowing requirements from $3MM to $25MM.