CapX Partners announced today their closing of a lease facility to support the growth needs of JD Norman Industries, a diversified manufacturer of metal components and systems with operations in the United States, Mexico, Canada, and the United Kingdom. CapX Partners provided JD Norman with a lease (of an undisclosed amount) to support the manufacturing of a particular machine part over a long-term contract.
“JD Norman was looking for additional funding to support new programs,” said Barrett Carlson, CapX Partners. “They are in the process of retooling their plant in Michigan and we are helping them fund the capital for the manufacturing lines.”
JD Norman’s success has been driven by growing its customer base, expanding its service offerings, and maintaining an exceptional reputation. During this period of growth, CapX is providing a strategy that allows JD Norman to draw down incremental tranches of capital to better match the company’s scaled financing needs. The lease line of credit structure helps JD Norman manage its capital efficiently during the investment period and will fund new machinery and equipment that will be put into service immediately.
JD Norman is a leader in the manufacturing of highly engineered products including formed, machined and cast metals. The company serves major original equipment manufacturers of automotive, industrial and transportation products. “CapX Partners was extremely supportive of our growth. Their team spent the time and effort to fully understand our project and offer a solution that was specifically catered to our needs,” stated Gary Wilhite, Vice President, Finance, JD Norman.
Founded in 1999, CapX Partners (CapX) is a specialty finance company that focuses on private equity and venture backed portfolio companies looking for debt financing in the $2 million to $20 million range. CapX provides senior and mezzanine debt including lease lines and favors manufacturing, distribution, technology, energy and healthcare industries with an emphasis on revenue producing fixed assets.