MB Business Capital provided a $5.7 million senior credit facility to Via, Inc., a Sparks, Nevada-based maker of ergonomic office chairs. The majority shareholder of Via Seating is Excelsior Capital Partners.
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $5.7 million senior credit facility to Sparks, Nevada based Via, Inc. Via is a designer and manufacturer of branded, ergonomically advanced office chairs. The Company was founded in 1987 with a focus on providing high quality, custom selected seating that can be shipped in 48 hours. Proceeds of the facility were used to refinance existing debt and to fund working capital needs.
Excelsior Capital Partners is the majority shareholder of Via Seating. Excelsior is a special situations investment firm focused on private equity, distressed debt and bridge lending. The firm provides debt and equity capital to corporations, real estate investors, and financial institutions. Excelsior has offices in Newport Beach, California and Denver, Colorado.
“Via differentiates themselves by serving the middle-market with advanced functionality in their products, superior customer service, including orders that can be turned in two days, and mid-range pricing. We are excited to be part of their growth story and look forward to our new relationship together,” says Michael Sharkey, President of MB Business Capital.
“Via Seating is in an exciting growth mode and we sought out a lender that understood our vision and wanted to help execute our business strategy. We are happy MB Business Capital proved to be that partner and we look forward to a long term relationship,” says Chas Hepler, President & CEO of Via, Inc.
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 Bank.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $15 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB Financial, Inc. at http://www.mbfinancial.com.