Ares Commercial Finance announced that it has provided an $11.2 million senior secured credit facility to NHI Mechanical Motion, LLC comprised of a revolving line of credit, a real estate term loan and a term loan secured by machinery and equipment. Proceeds from the financing were used to support the acquisition of the business and for ongoing working capital support.
NHI Mechanical Motion, LLC is a manufacturer and distributor of mechanical motion parts and assemblies, such as pullies, sprockets, bearings, as well as other assemblies used across several industries, such as outdoor power equipment, power transmission, material handling, farm & agriculture, and elevator markets, among others. The company is headquartered in Claremont, New Hampshire.
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December 17, 2019 at 08:51PM
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Ares Commercial Finance Provides $11MM Credit Facility to NHI Mechanical Motion - News - ABL Advisor
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