NEW YORK, Sept. 21, 2020 /PRNewswire/ — Tiger Finance, a wholly owned affiliate of Tiger Capital Group, today announced that it has closed on a $10 million delay draw term loan to Nu-Steel Trade that provides working capital for growth and acquisition opportunities.
“Nu-Steel is thrilled with the opportunity to partner with Tiger on the growth of our business,” said Larry Dobos, CEO and President of the global trader of steel products. “The ever-changing world has presented Nu Steel with opportunities to acquire new accounts and assets. Tiger’s flexibility and deep understanding of our industry made them the perfect partner for the next phase of Nu- Steel’s growth.”
With offices in Las Vegas and Los Angeles, Nu-Steel maintains extensive inventories of long and flat steel products, fabricated products, and semi-finished products. The company, which was founded in 2016, has supplied products for such major projects as New York’s Hudson Yards, the LAX Airport expansion and renovation, The Purple Line transit system extension in Los Angeles, the Oakland Raiders and Los Angeles Rams stadiums, various downtown Los Angeles loft buildings, and the California High Speed Rail.
“Nu-Steel’s principals have a long history as savvy traders and operators, and we are excited to partner with Larry Dobos and his team,” said Andy Babcock, Managing Director of Tiger Finance. “Tiger and Nu-Steel will be active in making acquisitions of steel trading books, general line service centers and distressed inventories.”
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SOURCE Tiger Capital Group