LBC Credit Partners, a provider of financing solutions to middle market companies, provided $41.0 million in senior secured credit facilities to support the acquisition of the aftermarket division of Cloyes Gear & Products, Inc. (Cloyes) by Hidden Harbor Capital Partners.
LBC served as Agent and Sole Lead Arranger for the senior secured credit facilities.
Based in Fort Smith, Arkansas, and founded in 1921, Cloyes is a global leader in the design, development, manufacturing, and distribution of timing drive systems and components for replacement applications in the automotive aftermarket and high-performance racing segment.
Hidden Harbor Capital Partners is an operationally focused private equity firm specializing in control investments in lower middle market companies.