$185 Million Credit Facility for Heidtman Steel ProductsFebruary 1, 2017
To support its working-capital needs, steel processor Heidtman Steel Products Inc. obtained a $185 million credit facility through lead arranger Wells Fargo Capital Finance, part of Wells Fargo & Co.
“We are very excited to be working with a great company such as Wells Fargo, that provided us with a credit facility that will allow us to build upon our own business momentum,” says Tim Berra, president of Heidtman Steel Products. “We were greatly impressed with the vast knowledge the Wells Fargo team had about our industry and how quickly they understood our business. This new credit facility is a significant step forward for our company, providing us with the resources and flexibility to successfully navigate through the cyclical demands of our business and enable our strategies for profitable business growth.”
Heidtman Steel operates nine direct or joint-venture facilities in Indiana, Illinois, Michigan and Ohio, serving hundreds of customers across a variety of industries including automotive, truck, heavy equipment, agriculture, lawn and garden, tanks, construction, furniture and other steel service centers.
See also: Heidtman Steel Products, Inc.
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