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SAN FRANCISCO, March 12, 2019 (GLOBE NEWSWIRE) -- Business Capital delivered a Term Loan to Wagner Die Supply, a family-run company that has been providing high-quality products for the die-cutting industry for 7 decades. Wagner manufactures punches and die storage systems, as well as distributes steel rule and ejection materials for customers that include the packaging, automotive and plastics industries. These industries are constantly evolving, more than 80% of what Wagner produces are consumables, and the company has built a solid reputation for keeping up with change and demand. In 2005, the family sold the Company into an ESOP to plan for succession and will use the financing facility to repurchase full ownership of company stock, realign management and employee incentives, as well as implement cost saving initiatives. The increased efficiency will further drive profits and growth.
“Business Capital secured real estate financing to purchase the stock we needed to take control of our firm,” said Tom Knutson, President of Wagner Die Supply. “We were impressed with how quickly they grasped our situation, provided us with several financing options and executed a successful transaction.”
Business Capital is a leading commercial finance firm specializing in securing customized non-dilutive credit based solutions for rapidly growing as well as challenged middle market companies nationwide who require a unique, timely and tailored financing structure to address their particular needs, especially in special situations.
A photo accompanying this announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/cbeb5e44-273d-4316-8d2c-ece859a3cb3e