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The Secured Lender
SFNet's The 81st Annual Convention Issue
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May 1, 2025
Source: WhiteHawk Capital Partners, LP
WhiteHawk Capital Partners, LP (“WhiteHawk”), a private credit investment manager specializing in asset-based financing solutions, announced the closing of a $245 million senior secured loan facility with Heidtman Steel Products, Inc. (“Heidtman” or the “Company”).
Heidtman is a leading processor and distributor of flat-rolled steel products—including hot rolled, cold rolled, galvanized, and tubular products. The Company operates seven facilities across the Midwest, including several joint ventures, strategically positioned near major U.S. steel mills and producers.
WhiteHawk provided a $60 million term loan and partnered with BMO, the Administrative Agent of the $185 million asset-based revolver, bringing the total facility size to $245 million. Proceeds from the new term loan were used to refinance existing debt and provide additional liquidity to support Heidtman’s continued growth.
“We believe Heidtman is poised for sustained growth as a critical player in the U.S. domestic steel industry,” said Rob Chimenti, Managing Director at WhiteHawk. “We’re excited to support a company led by a strong management team, alongside a bank partner with deep expertise in metals lending.”
“We appreciate the flexible capital solution provided by the BMO and WhiteHawk partnership,” said Michael Dustmann, CFO of Heidtman Steel. “This funding is critical to achieving our strategic growth objectives.”
“Heidtman is a major player in the steel industry and specifically in the steel service center sector. We are excited to partner with WhiteHawk to jointly provide the additional capital for continued growth,” said Andrew Pappas, Managing Director & Head of BMO’s ABL Metals Group.
About Heidtman Steel Products, Inc.
Heidtman Steel, headquartered in Toledo, Ohio, is a premier processor and distributor of flat-rolled steel. The Company serves a diverse base of customers in automotive, construction, and other manufacturing industries through its network of processing facilities and joint ventures across the Midwest.
About WhiteHawk Capital Partners
WhiteHawk Capital Partners is a private credit investment manager focused on providing asset-based financing solutions to middle-market companies.
About BMO
BMO is the fourth largest commercial lender in North America with over $1 trillion in assets and $60 billion market cap and has a deep focus on industry-specific lending, including specialized expertise in the metals and industrials sectors.
Heidtman is a leading processor and distributor of flat-rolled steel products—including hot rolled, cold rolled, galvanized, and tubular products. The Company operates seven facilities across the Midwest, including several joint ventures, strategically positioned near major U.S. steel mills and producers.
WhiteHawk provided a $60 million term loan and partnered with BMO, the Administrative Agent of the $185 million asset-based revolver, bringing the total facility size to $245 million. Proceeds from the new term loan were used to refinance existing debt and provide additional liquidity to support Heidtman’s continued growth.
“We believe Heidtman is poised for sustained growth as a critical player in the U.S. domestic steel industry,” said Rob Chimenti, Managing Director at WhiteHawk. “We’re excited to support a company led by a strong management team, alongside a bank partner with deep expertise in metals lending.”
“We appreciate the flexible capital solution provided by the BMO and WhiteHawk partnership,” said Michael Dustmann, CFO of Heidtman Steel. “This funding is critical to achieving our strategic growth objectives.”
“Heidtman is a major player in the steel industry and specifically in the steel service center sector. We are excited to partner with WhiteHawk to jointly provide the additional capital for continued growth,” said Andrew Pappas, Managing Director & Head of BMO’s ABL Metals Group.
About Heidtman Steel Products, Inc.
Heidtman Steel, headquartered in Toledo, Ohio, is a premier processor and distributor of flat-rolled steel. The Company serves a diverse base of customers in automotive, construction, and other manufacturing industries through its network of processing facilities and joint ventures across the Midwest.
About WhiteHawk Capital Partners
WhiteHawk Capital Partners is a private credit investment manager focused on providing asset-based financing solutions to middle-market companies.
About BMO
BMO is the fourth largest commercial lender in North America with over $1 trillion in assets and $60 billion market cap and has a deep focus on industry-specific lending, including specialized expertise in the metals and industrials sectors.
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