Deal Synopsis:
The Lenox Group advised BeoCare Group, Inc., and its subsidiaries (collectively, “BeoCare” or the “Company”), on its financing from MB Business Capital, a subsidiary of MB Financial Bank, N.A. (collectively, “MB Financial”). BeoCare is a medical device manufacturing company headquartered in Hudson, North Carolina with an additional facility in Shelby, North Carolina. BeoCare develops and produces medical textiles and is the leading domestic contract manufacturer of knitted products for use in maternity care and incontinence care used primarily in long term care facilities and hospitals. MB’s capital will allow Beocare to accelerate its growth both from a working capital and capital investment perspective supporting BeoCare’s intention to be the OEM manufacturing partner of choice for leading healthcare companies worldwide, working together to develop innovative textile products that improve patients’ quality of life.
MB Financial provides financial solutions to small and medium-sized businesses in the middle market including lending products comprising of working capital lines of credit, term loans, acquisition financing, asset-based lending, and more. MB Financial’s headquarters is located in Chicago, Illinois with additional locations across the United States.The Lenox Group acted as exclusive financial advisor to Beocare in connection with this transaction.