Opus Bank’s Commercial Banking division provides capital to support growth initiatives and refinance existing debt to Hudson Tool Steel Corporation
Overview of Transaction
Hudson Tool Steel Corporation, in business since 2002, specializes in cutting steel blocks to certain specifications and supplies tool steels, high-speed steels, carbon steels, and alloy steels to customers throughout the United States.
Opus Bank (“Opus”) provided a Formula Line of Credit for working capital and additional term debt to refinance existing debt.
Significance of Transaction
Opus provided Hudson Tool Steel Corporation with the necessary capital to support organized growth as well as an improved debt structure.
Opus Bank's Role
Opus partnered with Hudson Tool Steel to understand their business model and provide a capital structure aligned with the borrower’s strategic goals.
Opus also provided operational efficiencies for an east coast distribution location.