MidCap Business Credit announced that it has completed a $10 million Asset Based Credit Facility to Forged Components, Inc. Headquartered in Humble, TX, Forged Components is a global leader in forging, machining, and the manufacturing of integral self re-enforced connections for pressure nozzles and flanges.  The opportunity was sourced out of MidCap’s regional office in Houston, TX. 

Karl Lyons, President of Forged Components, Inc., said “This financing has allowed Forged Components Inc. to acquire a major competitor, which will result in an ability to increase our manufacturing capacity by 50% or more.” 

MidCap Business Credit provides asset based credit facilities to small and middle market businesses nationwide, who have borrowing requirements from $1MM to $10MM.