Via News Release
“MINNEAPOLIS (August 15, 2017) – Logic PD, an Electronics Manufacturing Services (EMS) and Product Development solutions company for the connected digital world, announced it has reached an agreement on a new $9 million senior credit facility with MB Business Capital, a division of MB Financial Bank, N.A. MB Business Capital’s credit facility will be used to fund Logic PD’s working capital needs.”
The new agreement will allow Logic PD to continue investing in its facilities and core capabilities. Logic PD’s focus on modernizing its manufacturing capabilities and standing up its low-cost manufacturing option in Mexico are key strategic efforts to driving revenue and growth for the company. Together with Logic PD’s continued commitment to providing innovative design, engineering, electronics manufacturing and product support services, Logic PD is poised to build on recent successes to secure its place as an industry-leading full-service product development company.
“Logic PD is focused on building a strong foundation for continued growth. Our relationship with MB will allow us to continue making the investments in our operations that are so vital to serving our customers and establishing Logic PD as an industry-leading brand,” said Bruce DeWitt, Logic PD President and CEO.
Logic PD is a portfolio company of Denver, Colorado-based CHB Capital Partners. CHB makes minority and majority investments in three types of transactions—leveraged recapitalizations, management-led buyouts and growth equity investments—across manufacturing, consumer branded, business service and technology sectors.
“We welcome Logic PD and CHB to MB. The MB Business Capital team works diligently to exceed our customer’s expectations and offer top-notch solutions to our customers. We were able to provide Logic PD with a comprehensive lending solution within the time frame they requested.” says Michael Sharkey, President of MB Business Capital.
About Logic PD
Logic PD collaborates with clients to guide them throughout the complete lifecycle of their Design & Engineering and Electronics Manufacturing Services needs to accelerate their growth and capture value. With integrated capabilities in research, design, engineering, quality, regulatory, manufacturing, and aftermarket services, Logic PD helps its clients identify opportunities, reduce risk, and control costs to deliver the next generation of innovative products into the world’s most demanding markets.
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.