Middleby Marshall Inc. manufactures, sells, and leases conveyor ovens for restaurant food cooking applications. It offers gas and electric ovens, counter top conveyor ovens, CTX ovens, and dough rollers. The company also provides installation, service, and parts distribution through a network of service and parts distributors worldwide. It sells its products through sales representatives in the United States, Canada, Central America, South America, Europe, Africa, the Middle East, Southeast Asia, Australia, and New Zealand. Middleby Marshall Inc. has a strategic alliance with Direct Capital Corporation. The company was incorporated in 1978 and is based in Elgin, Illinois. Middleby Marshall I...
1400 Toastmaster Drive
Elgin, IL 60120
Founded in 1978
Direct Capital Corporation Partners with Middleby Marshall Inc
Oct 25 12
Direct Capital Corporation and Middleby Marshall Inc., a division of The Middleby Corporation, have formed a strategic alliance to provide affordable finance solutions for Middleby Marshall's customers. The partnership will enable Middleby Marshall customers to quickly and cost-effectively acquire the foodservice equipment they need to grow and expand. The alliance with Middleby Marshall will enable Direct Capital to further grow its presence in the growing foodservice industry.
Middleby Corp. and Middleby Marshall Inc. Enter into Five-Year $1 Billion Credit Agreement with Bank of America
Aug 9 12
On August 7, 2012, Middleby Corp. and Middleby Marshall Inc. entered into a five-year $1 billion credit agreement with Bank of America, as administrative agent, and various other agents and lenders named therein. The credit agreement provides for a $1 billion multi-currency revolving credit facility, with the potential for Middleby Marshall, under certain circumstances, to increase the amount of the facility up to a total of $1.350 billion, either by increasing the revolving commitment or by adding one or more term loan tranches. The multi-currency credit facility consists of revolving loans and sublimit for swingline loans and letters of credit. Borrowings under the credit facility may be made by Middleby Marshall, may be denominated in dollars and, up to a certain dollar equivalent limit, certain foreign currencies, and may be used for working capital and other general corporate purposes, as well as for financing acquisitions. Middleby Marshall may from time to time designate any wholly-owned domestic subsidiary as a subsidiary borrower. The credit facility matures in 2017, with the potential for Middleby Marshall to extend the maturity date in one year increments. All obligations under the credit agreement are secured by substantially all the assets of Middleby Marshall, the company and certain of the company's material domestic subsidiaries, and unconditionally guaranteed by, subject to certain exceptions, the company and certain of the company's direct and indirect material domestic subsidiaries. Borrowings under the credit facility bear interest, at the option of Middleby Marshall, at a fluctuating base rate or at a rate equal to LIBOR plus a margin determined by Middleby Marshall's leverage ratio. A commitment fee equal to a percentage of the aggregate amount of the lenders’ commitments, and a letter of credit fee on the undrawn amount of each letter of credit issued under the letter of credit subfacility, is paid quarterly and on the maturity date. The credit agreement amends and restates the company's and Middleby Marshall's prior credit facility, which was established pursuant to that certain fourth amended and restated credit agreement, dated as of December 28, 2007, among the company, Middleby Marshall, Bank of America, as administrative agent, and various financial institutions party thereto. Middleby Marshall borrowed approximately $272.1 million under the credit agreement on August 7, 2012 to repay all outstanding indebtedness under the previous credit agreement.
Middleby Marshall Inc. Introduces Hearth Bake Belt for a "Deck Oven" Bake
Jan 12 12
Middleby Marshall Inc. introduced the exclusive Hearth Bake Belt, a belt designed for use on the WOW! Oven platform. The enhanced oven and conveyor frame ensures a perfect product and flawless operation for operators who want a deck oven crust. The WOW! Oven Hearth Bake has all of the energy and time saving features of the WOW! Oven, including the patented energy eye technology and a fast consistent bake. The oven is cool to the touch and safe for any kitchen. Also, the oven comes pre-seasoned and ready to use with no screens are required for use.