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MB Business Capital Announces $11.5MM+ Credit Facility for 3P Processing

May 21, 2018, 07:00 AM
Filed Under: Finance News

MB Business Capital, a division of MB Financial Bank, N.A., announced it provided a new $11,575,000 senior credit facility to Wichita, Kansas-based 3P Processing, Inc. MB’s credit facility was used to fund the acquisition of 3P by Spell Capital Partners, LLC, refinance existing senior indebtedness and fund working capital needs going forward.

3P is a full-service provider of metal finishing, testing and inspection process services to the aerospace and defense sector, specializing in complex geometric and high-precision parts. Spell is a Minneapolis-based private equity group.
“Spell and MB Business Capital have always been great partners. We are very pleased that we were able to close what we proposed in a very tight timeframe,” said Michael Sharkey, President of MB Business Capital.

“We have always had a good relationship with MB and Spell values the fact that MB understands and can operate easily with any sub-debt player involved in our transactions,” said Paul Meyering, Senior Managing Director of Spell.


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