PITTSBURGH, April 12, 2012 /PRNewswire/ -- F.N.B. Capital Corporation, a Pittsburgh-based provider of mezzanine debt and equity and the merchant banking subsidiary of F.N.B. Corporation (NYSE: FNB), announced today that it participated in a recapitalization of Glunt Industries with investors Merit Capital Partners and Glunt management.
Located in Warren, Ohio, Glunt Industries is a world-renowned remanufacturer and service provider of equipment to U.S. steel and aluminum mills. The company reconditions, rebuilds, upgrades and extends the service life of virtually every type of equipment used in the production of steel and aluminum, with industry-leading expertise in restoring mandrels, mandrel bars, chocks and rolls. These repair and refurbishment services are critically important to the profitability of metal producers as equipment used in steel and aluminum production can often be refurbished to exacting tolerances for less than the cost of replacement.
F.N.B. Capital invested in both the subordinated debt and equity in support of the recapitalization.
Since its inception in November 2005, F.N.B. Capital Corporation has completed nineteen transactions for sixteen companies. For more information on F.N.B. Capital or this transaction, please visit www.fnbcapital.com.
About F.N.B. Capital Corporation, LLC
F.N.B. Capital Corporation, LLC is headquartered in Pittsburgh, PA. A subsidiary of F.N.B. Corporation, it specializes in providing subordinated debt, private equity, and other types of financial capital to small and medium sized commercial enterprises, focusing on recapitalizations, buyouts, generational transitions, mergers and acquisitions, and other growth capital needs.
About F.N.B. Corporation
F.N.B. Corporation, headquartered in Hermitage, PA, is a diversified financial services company with total pro forma assets of $11.6 billion. F.N.B. Corporation is a leading provider of commercial and retail banking, leasing, wealth management, insurance, merchant banking and consumer finance services in Pennsylvania and Ohio, where it owns and operates First National Bank of Pennsylvania, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC, F.N.B. Capital Corporation, LLC, Regency Finance Company and F.N.B. Commercial Leasing. It also operates consumer finance offices in Kentucky and Tennessee.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's SmallCap 600 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Investor information is available on F.N.B. Corporation's Web site at www.fnbcorporation.com.
SOURCE F.N.B. Corporation