FirstMerit Bank Business Credit announced three recent asset-based loan transactions.

FirstMerit Bank Business Credit announced it closed a new $78 million revolving credit loan and term loan facility to building products distribution company based in Kansas on May 8, 2014. Proceeds of the facility were used to refinance existing debt and the acquisition of a complimentary distribution business.

In addition, FirstMerit Bank Business Credit closed a new $10 million revolving credit loan facility to East Point Sports Ltd., LLC on May 28, 2014. Proceeds of the facility were used to refinance existing debt and provide working capital.

East Point Sports Ltd., LLC, headquartered in Whippany, New Jersey, is a leading supplier of branded recreational sporting goods to major retailers in the United States and Canada.

Additionally, FirstMerit Bank Business Credit closed a new $49 million revolving credit and term loan facility to Defiance Metal Products Company on May 30, 2014. Defiance Metal Products Company is a portfolio company of Taglich Brothers, Inc., a private equity firm. Proceeds of the facility were used to refinance existing debt and provide working capital.

Defiance Metal Products Company, headquartered in Defiance, Ohio, is a full-service metal stamper and fabricator of medium volume components and assemblies for the commercial vehicle and equipment OEM markets.

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.