MB Business Capital, an asset-based lending division of MB Financial Bank, provided a credit facility to Chicago-based Zorch International Inc, a maker of branded promotional products. No financial terms were disclosed. Part of the facility was used to support Satori Capital’s acquisition of Zorch.
CHICAGO (PRWEB) MAY 01, 2018
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new Revolving Credit Facility to Chicago, Illinois-based Zorch International, Inc. (“Zorch” or the “Company”). Founded in 2001, Zorch is a value-added distributor of branded promotional products with a state-of-the-art supply chain model built around key relationships with industry-leading suppliers and their Fortune 500 clients. MB’s credit facility was used as part of the acquisition of Zorch by Satori Capital and will fund working capital needs going forward.
Satori Capital is a Texas-based multi-strategy investment firm founded upon the principles of conscious capitalism. Satori’s private equity business partners with leadership teams of companies with $5 million to $25 million of EBITDA that operate with a long-term perspective, commit to their mission or purpose, and create value for all stakeholders.
“We are happy to welcome Zorch, a growing local Chicago-based business, and Satori Capital to MB. We were able to structure a financing that fit the needs for this transaction, move through our process in a very timely manner, and provide Zorch with easy access to our diverse offering of bank products,” said Michael Sharkey, President of MB Business Capital.
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 $35 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 $20 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.