CHICAGO, Oct. 10 /PRNewswire/ — Bridge Finance Group announced the completion of a $12 million revolver, and an $8.4 million term loan/capital expenditure line to Madison-Kipp Corporation (“MKC”). In conjunction with this transaction, Ridgestone Bank, an affiliated company of Bridge Finance Group, provided a $3 million real estate loan as well as cash management services.
The Company is a producer of precision machined components and system subassemblies for transportation and industrial end markets. MKC, founded in 1898, is headquartered in Madison, Wisconsin with three manufacturing plants located within a ten-mile radius.
“We are very excited with the capital structure that Bridge and its affiliate were able to provide, and we look forward to utilizing the additional capital to expand our business,” said Reed Coleman, MKC's Chief Executive Officer. “From the beginning, and throughout the entire process, Bridge exhibited an ability to be flexible and a willingness to structure a facility that would work for all parties involved. This project could not have been successfully completed without the tireless efforts of Harney Management Partners.”
“This transaction not only shows the level of expertise, but it also shows the level of flexibility, that Bridge can provide when dealing with complex transactions,” says Randy Abrahams, President and CEO of Bridge Finance Group. “We invest in people and are most impressed with Madison-Kipp’s leadership, its executives and a superb employee group capable of delivering complicated products to a very demanding range of customers.”
ABOUT BRIDGE FINANCE GROUP
Bridge Finance Group offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the lending industry. Through accounts receivable, cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of its customers. Bridge is based in Chicago, Illinois with offices in the Northeast, Southeast, and West Coast.
SOURCE Bridge Finance Group
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