MidCap Business Credit Close on a $16 Million Asset-based Credit Facility to E.R. Wagner Manufacturing Company

MidCap Business Credit announced today they have closed on a $16,000,000 asset-based credit facility to E.R. Wagner Manufacturing Company, with locations in Menomonee Falls, WI., and Chicago, IL.   E.R Wagner is a 120+ year old family held business which manufactures metal hinges and stampings, tubular components, casters, and wheels, that are sold primarily into the industrial and automotive industries.  

The new relationship was sourced and closed out of MidCap’s headquarters in West Hartford, CT.   Seth Cooper, Senior Vice President said, “We were able to structure a flexible asset based credit facility with advances against receivables, inventory, equipment, and real estate.  The additional liquidity we were able to provide will allow the company to execute on their strategic plan and achieve their financial objectives.  We look forward to working with team at E.R Wagner and Promontory Point Capital, who acted as the investment bank on the transaction”.

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $3MM to $20MM.