MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $15,500,000 senior credit facility to Texarkana, Arkansas based Tri-State Iron & Metal Co., Inc. (“Tri-State”), a client of Butler Snow Advisory Services, LLC (BSA). Tri-State is a third-generation, family-run business that has been in business since 1947. They are a metals recycler that recycles both ferrous and nonferrous materials, as well as a small amount of paper and plastic. MB’s credit facility will be used going forward to fund working capital needs and acquisitions.

“MB Business Capital understands and has extensive experience working with cyclical companies like Tri­ State. We creatively structure facilities that allow our borrowers to have full control over their availability requirements. We are very happy to welcome Tri-State Iron & Metal Co., Inc. to MB.” says Michael Sharkey, President of MB Business Capital.

“We have been in business for over 70 years and in that time we have had two banks. Now that we are with MB Business Capital we look forward to working together with them as our third banking relationship. Their desire to understand our business and growth plans are what helped us decide to make the change. Our family and team here at Tri-State look forward to a long lasting relationship built on trust and understanding of the dynamic environment we operate in.” says Howard Glick, CEO of Tri-State Iron & Metal Co., Inc.

BSA provided assistance on the new transaction. Butler Snow Advisory is a subsidiary of the law firn of Butler Snow LLP. With offices in Memphis and Nashville, Tennessee, Birmingham, Alabama and Jackson, Mississippi, BSA works with clients throughout the country as they address their most critical challenges and opportunities, helping to lead their businesses through periods of growth and transformation. Butler Snow Advisory specializes in providing executive-level strategic guidance to private, family owned and closely held companies

“MB Capital was a pleasure to work with throughout the process of establishing this new credit facility. Their team displayed a genuine desire to understand the metal recycling business and to architect a solution that was customized to our needs. The Tri-State team has delivered outstanding results in the face of market fluctuations, and this new facility will ensure that ample capital exists to support future growth. Butler Snow Advisory is pleased to have partnered with Tri-State and MB Business Capital to forge this new relationship.” said Scott Stone, Principal at Butler Snow Advisory.

About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial.

 

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CLEVELAND, OHIO — Constant Aviation, offering full-service maintenance, repair and overhaul with a nationwide network, announced the completion of its acquisition of StarPort, a full-service MRO and FBO based in Sanford, FL (KSFB).  Butler Snow Advisory Services represented Starport in the transaction.

Stephen Maiden, President and CEO of Constant Aviation, said, “The acquisition of StarPort provides us continued growth in the Southeast with a 75,000-square foot facility that supports maintenance, interior, paint and FBO operations. It represents an opportunity to expand our business into the exterior paint market, while significantly enhancing our presence in the southeast region of the country. Our transition
plans include the immediate investment of approximately $2M into the paint facility. The upgrades to the paint facility will help increase capacity, allow for quicker turn times, and will utilize the best advancements in technology. The integration of StarPort into the Constant network will be done strategically so that our organization can continue to operate as a collective unit. Our initial focus at the Orlando-based location will be adding team members to boost capacity and increase capabilities.”

“StarPort is well known for their superior paint and interior refurbishment capabilities, specifically on the Falcon, Hawker/Beech, and Bombardier platforms. Constant will be investing in training and necessary tooling to expand the product line offerings to include our niche aircraft which will begin with the Embraer, Cessna and Gulfstream airframes,” continued Maiden.

About Constant Aviation

Constant Aviation has locations at Cleveland Hopkins International Airport, Cuyahoga County Airport, Birmingham International Airport, Las Vegas International Airport and Orlando Sanford International Airport. Constant specializes in airframe and engine maintenance, major repairs, avionics, interior refurbishment, paint, parts distribution and accessory services. As one of the fastest growing MRO’s in the country, Constant Aviation understands the importance of aircraft availability, predictability and minimizing operational costs for their customers. Constant Aviation has raised the bar in aircraft maintenance expectations and provides customers with a one-stop shop option when it comes to maintenance events.  For more information, please visit www.constantaviation.com or call 216.261.7119.

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