PTC Alliance nets loan for add-on, extra capital

PTC Alliance Corporation closed a $28.8 million senior secured term loan facility with Great Rock Capital.

Proceeds funded an acquisition of Minneapolis-based Metal-Matic and provided the company with “additional capital,” according to a Jan. 24 company statement. The acquisition was announced in December.

PTC Alliance manufactures welded steel tubing and precision components. The company is an investment of Black Diamond Capital Management.