November 2021—MidCap Business Credit announced they have closed on a $6,000,000 asset based credit facility for a Camwood Capital Group portfolio company, Texas Contract Manufacturing Group(“TCMG”), and TCMG’s wholly owned subsidiaries, Lor-Van Manufacturing, Inc., and Apex Machining, Inc.
Located in California, Lor-Van Manufacturing is a contract manufacturer specializing in precision sheet metal and assembly services for the medical device, life sciences, semi-conductor, and general industrial markets. Apex Machining is a California-based contract manufacturer as well, with a focus on the machining of complex, highly-engineered metal and plastic components for the aerospace and defense, medical device, satellite, and semiconductor industries.
The opportunity was sourced out of Midcap’s office in Dallas, TX. Bill Nay, Senior Vice President of MidCap Business Credit said, “We’re excited about the opportunity to partnerwith TCMG and their management team as they execute on their strategic plan and we look forward to supporting their growth.”
Matt Mayfield, Managing Director of Camwood said, “We are extremely excited for the new partnership with the MidCap team that will allow TCMG the flexibility to scale as we continue to execute on the company’s strategic growth plans and operating initiatives going forward.”
MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $20MM.