FirstMerit Bank Business Credit announced it closed a new $10 million revolving credit loan facility to ACO, Inc. on April 2, 2014. Proceeds of the facility were used to refinance existing debt and provide capital for the company’s transition to the ACE Hardware Corporation retail store format. 

ACO, Inc., headquartered in Farmington Hills, MI, operates retail hardware, general merchandise and residential gardening stores.

Additionally, FirstMerit Bank Business Credit announced it closed a new $30 million revolving credit and term loan facility to Canton Drop Forge, Inc. on April 3, 2014. Proceeds of the facility were used to refinance existing debt and provide working capital. 

Canton Drop Forge Inc., headquartered in Canton, OH, is primarily engaged in the manufacture of closed-die forgings serving manufacturing customers in the aerospace, railroad, oil and gas, mining and construction equipment industries.

FirstMerit Bank Business Credit provides working capital and term loan facilities to middle–market companies for acquisitions, LBO’s, MBO’s recapitalizations, rapid growth, seasonal working capital build-up, and turnaround situations.