Hudson Tool Steel Corporation
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.