Merit Brass

Parameters

FILO Term Loan: $10.0MM ($6.5MM Tranche A / $3.5MM Tranche B)

Situation

Merit Brass is a U.S.-based distributor and manufacturer of pipe fittings, valves, and related components serving industrial, plumbing, HVAC, and oil & gas markets through a nationwide distribution network.

Following a prior acquisition that strained liquidity, the Company’s incumbent lender elected to exit the credit. To facilitate the transition and provide incremental liquidity, Tiger and a new bank partnered to refinance the existing facility and support the Company’s working capital needs.

Tiger’s Role

Tiger provided a two-tranche term loan, secured by a first lien on machinery & equipment and intellectual property, complementing the new bank facility. The financing strengthened liquidity and provided the flexibility needed for management to address working capital pressures related to the acquisition.

Resolution

With Tiger’s capital support, the Company stabilized operations and demonstrated renewed strength in its core business. The Tiger facility was subsequently refinanced, reflecting the Company’s improved financial performance and enhanced credit profile.