Ares Commercial Finance provided a $30 million senior secured revolving line of credit to Shapiro Metals. The Company, based in St. Louis, Missouri, creates customized recycling programs for manufacturing partners across a broad range of industries, in addition to trading materials with consumers across the globe. Shapiro differentiates itself from competitors through its real time insight into each customer’s environmental and financial impact.
Proceeds from the financing enabled the Company to refinance existing indebtedness and will provide additional liquidity for working capital and customer expansion.