Legacy Corporate Lending Provides $31 Million Asset-Based Credit Facility to Shapiro Metals Company
November 19, 2025
Source: Legacy Corporate Lending, LLC
Shapiro selected Legacy to refinance its existing credit facility to create additional liquidity from a borrowing base supported by accounts receivable, inventory, machinery and equipment, and real estate. The transaction closed in the third quarter of 2025.
Founded over 120 years ago, Shapiro operates multiple scrap yards across the Midwest, Southeast and Southwest United States. In addition to processing scrap metal, Shapiro works with contracted die casters to produce aluminum ingot for sale into the aerospace, automotive, transportation and other industries. With a commitment to supporting sustainability goals, Shapiro also advises customers on how to achieve comprehensive recycling solutions.
“In the dynamic and ever-evolving industry that we operate in, finding a financing partner that is able to not only support our working capital requirements, but understand the month-to-month fluctuations that come with commodity products is crucial to the growth and success of our business,” said Bruce Shapiro, Chief Executive Officer of Shapiro.
“The Legacy team took a flexible, creative approach to structuring a credit facility that provided the additional liquidity we were looking for to grow the Company.”
“Being a trusted partner for family-owned businesses is a trademark of Legacy. Shapiro Metal Company’s long history speaks volumes for the mark the Company has made on the industry, and we are proud to support their mission and business needs,” said Clark Griffith, Chief Executive Officer of Legacy. “We look forward to a lasting partnership with Bruce and the Shapiro team and supporting the Company’s ongoing growth.”
About Legacy Corporate Lending
Legacy Corporate Lending is an independent asset-based lending company providing revolving lines of credit and term loan commitments up to $40 million in transaction size. Legacy provides direct financing to middle market companies, private and public companies, across a wide spectrum of industries including automotive, business services, consumer products, distribution & wholesale, e-commerce & retail, food & beverage, manufacturing, transportation & logistics. Legacy Corporate Lending is a portfolio company of Bain Capital Specialty Finance, Inc. and Bain Capital Private Credit, which are externally managed by BCSF Advisors LP, an SEC-registered investment advisor. For more information, visit legacycorporatelending.com.
About Shapiro Metals
Shapiro Metals is an industrial metal recycling company based in St. Louis, MO. The company was founded in 1904 and has since grown to ten strategically located facilities across the United States. Shapiro Metals is committed to creating partnerships with manufacturers that lead to brighter futures for their business and our world.
Media Contact:
Scott Lessne
Stanton
slessne@stantonprm.com
(646) 502-3569
