BOSTON, Jan. 12, 2012 /PRNewswire/ -- The Debt
Investment Group of GB Merchant Partners, the investment management
affiliate of Gordon Brothers Group, acting as Agent, announced
today the completion of a $30 million
term loan to Schuff International Inc. This loan will be supported
by the Company's assets, specifically real estate. Schuff
International (OTC: SHFK) is one of the largest steel fabrication
and erection companies in the United
States.
"The financing from GB Merchant Partners allowed us to take an
opportunity to purchase, at a favorable price, stock from two major
shareholders, and thereby, increasing stockholder value,"
stated Mike Hill, CFO of Schuff
International.
"We are pleased to support the company and provide the liquidity
needed to allow Schuff to execute its strategic agenda," added
Gary Prager, Managing Director, GB
Merchant Partners. "We feel Schuff is uniquely positioned to take
advantage of improving economic trends in 2012."
Founded in 1976, Schuff International has experienced
substantial growth, performing projects throughout the country.
Schuff offers integrated steel construction services from a single
source including design-build, design-assist, project management,
and single-source steel management systems.
About Schuff International, Inc.
Schuff International, Inc. (SHFK) and its family of steel
companies is the largest steel fabrication and erection company in
the United States. The 35-year old
company executes projects throughout the country as well as
internationally. Schuff offers integrated steel construction
services from a single source including design-build,
design-assist, engineering, BIM participation, 3D steel
modeling/detailing, fabrication, advanced field erection, joist and
joist girder manufacturing, project management, and single-source
steel management systems. Schuff International, Inc. employs
approximately 1,200 people throughout the country.
About GB Merchant Partners, Debt Investment Group
The Debt Investment Group of GB Merchant Partners
(www.gbmerchantpartners.com), the investment management affiliate
of Gordon Brothers Group, originates, structures and invests in
private market debt. Structured debt investments in the form of
senior, unitranche, second lien or mezzanine loans ranging from
$10 to $50 million are made to
middle-market companies in need of capital to effect strategic
change. Target industries include aerospace, automotive,
commodities, consumer products, forest products, gaming, industrial
equipment, manufacturing, real estate, restaurants, retail, and
wholesale/distribution.
SOURCE Gordon Brothers Group
