An Ohio-based automotive stamper needed a new lender. The Asset Based Lending team met with the management team at the plant in Ohio, reviewed their business plan and future projections and provided a line of credit that would meet their future...
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November 19, 2024, 07:16 AM
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Wingspire Capital provided a $25 million revolver to Aftermarket Performance Group (“APG”), a leading vertically integrated wholesale distributor, e-tailer, and manufacturer for performance aftermarket parts and accessories for enthusiasts in the...
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November 11, 2024, 08:30 AM
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Oak Hill Advisors (“OHA”) served as Administrative Agent and Lead Left Arranger of a private unitranche facility to support Carlyle’s acquisition of Worldpac, Inc., a formerly fully owned subsidiary of Advance Auto Parts, Inc. Worldpac is a national...
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September 10, 2024, 07:46 AM
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Clarus Capital announced the successful closing of a $20 million lease facility for a private equity-backed automotive services company. The financing will enable the acquisition of equipment vital for enhancing and expanding the company’s extensive...
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August 19, 2024, 07:30 AM
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Encina Private Credit (“EPC”) served as Revolver and Term Loan lender for a sponsor owned portfolio company operating in the automotive services industry. EPC’s $75 million first out commitment augmented the existing Unitranche lender’s $300 Million...
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Eclipse Business Capital provided a $101.2 million senior secured credit facility, consisting of an ABL revolving line of credit and term loan to an automotive parts manufacturer. The credit facility is secured by accounts receivable, inventory, and...
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Runway Growth Capital announced a $40 million commitment to CarNow, a live-data automotive technology platform that helps dealers elevate the car-buying experience by transforming the way they connect with customers.This strategic investment will...
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When a California-based aftermarket automotive supplier needed to increase its working capital after acquiring a competitor, Republic stepped in to provide more availability and a larger credit facility to support its cashflow. The private...
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Michael Doyle, Vice President – Asset-Based Lending at First Business Specialty Finance, a subsidiary of First Business Bank, announced a recently closed and funded $10,000,000 revolving line of credit and equipment term loan for the acquisition of...
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December 13, 2023, 07:03 AM
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Great Rock Capital closed a $40 million senior secured term loan facility with Fisher Dynamics. Fisher is a vertically integrated supplier of engineered seating structures and safety mechanisms to major OEMs and Tier 1 automotive suppliers...
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November 14, 2023, 07:58 AM
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Configure Partners served as financial advisor on the sale of Alloy Wheel Repair Specialists (“AWRS”), a leading provider of light vehicle alloy wheel repair, remanufacturing, and wholesaling services to Dallas-based private equity firm Breck...
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August 11, 2023, 06:00 AM
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Flatbay Capital announced the funding of a $2.2 million Owner Occupied CRE Bridge Loan for a Central Texas-based automotive organization. The 15-year-old company provides repairs for domestic, Asian, and European vehicles. The Texas-based automotive...
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Rivian Automotive announced that Rivian Holdings LLC, a direct subsidiary of Rivian Automotive, has entered into an Amended and Restated asset-based revolving Credit Agreement (A&R Credit Agreement) with JPMorgan Chase Bank as administrative agent....
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Superior Industries International, one of the world’s leading light vehicle aluminum wheel suppliers for OEMs and the European aftermarket, refinanced its term loan and revolving credit facilities. Funds managed by Oaktree Capital Management provided...
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December 20, 2022, 07:49 AM
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SSG Capital Advisors acted as the investment banker to David W. Carickhoff, Jr., Esq., the Chapter 7 Trustee of Electric Last Mile Solutions, Inc. and its subsidiary, Electric Last Mile, Inc. (together, “ELMS” or the “Company”), in the sale of...
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December 09, 2022, 07:45 AM
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Configure Partners, a leading middle-market investment bank, announced its role as exclusive financing advisor to Kingswood Capital Management, LP in securing committed debt capital to support the acquisition of Turbo Wholesale Tires, Inc. , a...
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November 30, 2022, 07:00 AM
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O2 Sponsor Finance, a division of Old Second National Bank, provided $13,350,000 in senior secured credit facilities to support West Edge Partners acquisition of Dakotaland Autoglass ("DAG" or the "Company").DAG is a leading distributor and service...
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November 22, 2022, 07:49 AM
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Citizens is leading a $600 million senior secured credit facility for Rochester, N.Y.-based Monro, Inc.Founded in 1957, Monro, Inc. provides a wide range of automotive undercar repair and tire services in the United States. The company operates more...
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November 16, 2022, 07:50 AM
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Main Street Capital completed a new portfolio investment to facilitate the recapitalization of Elgin Industries, Inc., a fully integrated supplier of engine and chassis components to original equipment manufacturers and the aftermarket. Main Street...
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October 26, 2022, 07:15 AM
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Tricolor closed a $100 million warehouse facility with Cincinnati-based Fifth Third Bank, secured by loans originated across its growing footprint, which spans five states, 20 markets and 55 retail hubs.“The addition of Fifth Third Bank to our...
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September 12, 2022, 07:52 AM
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Eclipse Business Capital (“EBC”) provided a $10 million senior secured revolving credit facility in the automotive marketing industry. The credit facility is secured by accounts receivable and will be used to refinance an existing facility and to...
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September 08, 2022, 07:34 AM
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Sound Point Capital Management provided an Accounts Receivable Facility for Dura Automotive, a global designer and manufacturer of highly engineered automotive systems and portfolio company of MiddleGround Capital (“MiddleGround” or the “Sponsor”). ...
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LBC Credit Partners provided a senior secured credit facility to Aterian Investment Partners to support the acquisition of ATCO Industries, Inc.LBC served as Agent and Sole Lead Arranger for the senior secured credit facility.ATCO was family-founded...
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Stellus Capital Management announced that its affiliates provided senior debt financing in support of Aterian Investment Partners’ (“Aterian”) acquisition of ATCO Industries, Inc. Founded in 1980 and headquartered in Sterling Heights, MI, ATCO is a...
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Standard Motor Products entered into a new five-year $500 million credit facility, with JPMorgan Chase Bank, as agent, and a syndicate of lenders, which includes a $100 million term loan and $400 million revolving credit facility (the “New Credit...
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eCapital closed a $21 million working capital line of credit to a Southern California automotive company. Operating profitably in a competitive industry for over a decade, the company previously met its specialized funding needs via private...
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Encina Equipment Finance (EEF) provided a $20 million loan to an automobile repair company for the purchase of various equipment for new store locations. EEF was represented by Reed Smith LLP.For more equipment finance industry news, visit Equipment...
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BizCap successfully structured and secured $25 million in financing for Auto Finance Solutions (AFS), a leading financing source for independent used car dealerships to purchase wholesale inventory throughout the United States. This new financing...
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Kyte, a company pioneering cars delivered to you on-demand, closed an asset-backed credit financing of up to $200 million from Goldman Sachs and the Ares Global Management Alternative Credit Team to accelerate the company's fleet growth and margin...
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Group 1 Automotive, an international, Fortune 300 automotive retailer with 201 dealerships located in the U.S. and U.K., completed a $2.0 billion five-year revolving syndicated credit facility with 21 financial institutions that will expire in March...
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White Oak Commercial Finance provided a $15 million factoring facility to a supplier of parts for the automotive aftermarket. The transaction was structured against the company’s accounts receivable, and the proceeds will be used to support its rapid...
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December 16, 2021, 07:55 AM
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Holley, the largest and fastest growing platform in the enthusiast branded performance automotive aftermarket category, announced the successful refinancing of its 2018 credit facility with a new $825 million credit facility. The new facility is...
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November 24, 2021, 07:03 AM
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Lear Corporation, a global automotive technology leader in Seating and E-Systems, entered into an agreement to refinance its existing credit facility. The amended and restated credit agreement extends the maturity of its revolving credit facility to...
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November 01, 2021, 08:00 AM
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Ares Commercial Finance (“ACF”) provided a $20 million accounts receivable securitization for K&N Funding, LLC, an affiliate of K&N Engineering, Inc. K&N®, a portfolio company of funds managed by Goldman Sachs Asset Management, is an industry-leader...
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Monroe Capital acted as lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Aftermarket Performance Group (“APG”) by sponsor Ripple Industries LLC. Based in Salt Lake City, Utah, APG is a...
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Cadence Business Finance provided a $22.5 million asset-based lending facility to a large regional tire distributor serving the Northeast United States. This additional liquidity provides Dunn Tire with the flexibility needed to execute on their...
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February 24, 2021, 07:45 AM
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Great Rock Capital provided $25.0 million of liquidity through a senior secured term facility to support a Michigan-based critical sole-source supplier of automotive products. The facility was used to refinance the company's existing lender and will...
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February 12, 2021, 07:40 AM
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Huntington Business Credit closed $30 million in new credit facilities with GNS North America on December 31, 2020. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth...
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February 09, 2021, 08:10 AM
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Siena Lending Group closed a $17.5 million asset-based credit facility with a California-based Tire Company (“TireCo” or the “Company”). The two-year revolving credit facility was used to refinance existing debt and provide additional working...
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December 16, 2020, 09:00 AM
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SG Credit Partners provided $2.1 million Unitranche Loan to a sponsor-backed e-tailer of aftermarket auto parts focused on a niche of the broader aftermarket industry. The Company sells through its Company-owned DTC eCommerce channel as well as...
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December 16, 2020, 08:55 AM
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Wingspire Capital Holdings announced the funding of a $30 million senior secured working capital revolver to a leading distributor in after-market auto parts, consumer electronics and personal protective equipment.The borrower will use the funding to...
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September 30, 2020, 09:10 AM
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Monroe Capital announced an increase in the credit facility to Magneto & Diesel Injector Service, Inc. (“M&D”) to support the acquisition of an Automotive Parts Company. M&D is an existing portfolio company of Warren Equity Partners.The automotive...
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White Oak Commercial Finance LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided an $8MM credit facility to a global automotive supplier specializing in design, engineering, and manufacturing of mechatronic...
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Hilco Global has issued a timely and relevant report on the impact of rapidly evolving events in the automotive industry, ways in which manufacturers and suppliers are rising to difficult challenges, and how the fallout from COVID-19 may lead to...
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DURA Automotive Systems, LLC, a leading global automotive supplier specializing in the design, engineering, and manufacturing of automotive mobility products, including parts and systems to support the industry’s shift to electric vehicles, announced...
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October 21, 2019, 08:12 AM
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Group 1 Automotive, Inc. (GPI), an international, Fortune 500 automotive retailer, announced that it has completed a $1.8 billion five-year revolving syndicated credit facility with 23 financial institutions that will expire in June 2024 and can be...
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Penfund, an independent provider of junior capital to North American middle market companies, announced today the completion of a follow-on investment in Mister Car Wash as part of a small club of lenders providing a new $225 million second lien...
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Citizens Commercial Banking announced that it is leading a $600 million senior secured credit facility for Rochester, N.Y.-based Monro, Inc.Founded in 1957, Monro, Inc. provides a wide range of automotive undercar repair and tire services in the...
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AutoWeb, Inc., a robust digital marketing platform providing digital advertising solutions for automotive dealers and OEMs, has entered into a new three-year, $25 million secured revolving credit facility with PNC Bank."This new credit facility...
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The Securities and Exchange Commission today charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while...
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PNC Bank announced the closing of a $28.89 million senior secured credit facility for KOST USA, Inc (KOST). PNC Bank served as administrative agent.
Established in 1985 and based in Cincinnati, Ohio, KOST is the largest family-owned manufacturer...
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February 07, 2019, 07:19 AM
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Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Magneto & Diesel Injector Service, Inc. (M&D Distributors) by private equity sponsor, Warren...
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February 05, 2019, 07:16 AM
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Chiron Financial, LLC served as the exclusive investment banker to Cobra Downhole Motors, Inc., a subsidiary of Genco Energy Services, in the sale of substantially all of its assets to Norse Partners LLC. The $18.8 million sale transaction, which...
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August 03, 2018, 07:15 AM
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Motorcar Parts of America, Inc. announced it has entered into a new five-year $230 million credit facility led by PNC Bank, National Association consisting of a $200 million revolver and $30 million term loan, replacing a previous credit facility...
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Abacus Finance Group, LLC (Abacus), a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced that it served as Administrative Agent and Lead Arranger for...
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General Motors Co. announced the execution of an unsecured $16.5 billion revolving credit facility that amends and extends GM’s existing $14.5 billion revolving credit facility and establishes a new $2.0 billion 364-day facility.The renewed facility...
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On 19 March 2018, Michelin announced that it had reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued share capital of Fenner PLC. It is intended that the Acquisition will be implemented by means of a...
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AutoCanada Inc. announced it entered into a new credit agreement providing secured credit facilities up to $1.08 billion, subject to certain conditions precedent to funding.
Upon closing, the new three-year credit agreement will increase the Company...
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TCF Capital Funding, a division of TCF National Bank which is a subsidiary of TCF Financial Corporation, announced that it provided secured financing to support Superior Capital Partners and Rostra Precision Controls, Inc. (Rostra) in their...
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February 09, 2018, 07:13 AM
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Crystal Financial LLC announced the completion of a $45.0 million Senior Credit Facility for CARite Holdings, LLC (CARit”). Headquartered in Madison Heights, MI, the company sells and leases previously owned vehicles through their network of owned...
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January 11, 2018, 07:09 AM
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Golub Capital recently announced that as Administrative Agent, Sole Bookrunner and Sole Lead Arranger, it provided a senior credit facility to support the acquisition of FullSpeed Automotive by CenterOak Partners. FullSpeed Automotive, formerly...
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November 09, 2017, 07:00 AM
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MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $9,050,000 senior credit facility to Tempe, Arizona-based Triumph Manufacturing, LLC. Founded in 1957, Triumph is an automotive parts manufacturer...
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September 13, 2017, 07:20 AM
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Bank of America Business Capital has provided a $40 million asset-based revolving credit facility to Bridgewater Interiors, LLC. Proceeds were used to provide ongoing working capital financing to support its growth objectives.Bridgewater Interiors...
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August 17, 2017, 07:11 AM
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Lear Corporation, a global supplier of automotive seating and electrical systems, announced that it has entered into a new credit agreement to refinance its existing credit facilities. The new credit agreement consists of a $1.75 billion revolving...
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August 09, 2017, 07:20 AM
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Tesla, Inc. and its subsidiary Tesla Motors Netherlands B.V. entered into the Sixth Amendment to the ABL Credit Agreement, dated as of June 10, 2015 among the Borrowers, the lenders party thereto, and Deutsche Bank AG New York Branch, as...
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UCI International, LLC announced the United States Bankruptcy Court for the District of Delaware confirmed its plan of reorganization. The confirmation order marks a key milestone in the 6 month reorganization process and positions the Company for...
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December 07, 2016, 07:42 AM
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LBC Credit Partners provided a secured mezzanine loan to PPHC Holdings, Inc., a portfolio company of Milestone Partners. The proceeds were used to support the acquisition of Fleetwood Metal Industries, Inc.Founded in 1955, PPHC is a market leader in...
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October 27, 2016, 07:21 AM
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Capital One announced it provided a $12.0 million floorplan revolver to Fahrney Automotive Group in Selma, CA. Capital One also provided a $10.4 million construction line of credit that will enable the company to house each of its three franchises in...
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Group 1 Automotive, Inc., an international, Fortune 500 automotive retailer, today announced that it has completed a $1.8 billion five-year revolving syndicated credit facility with 24 financial institutions that will expire in June 2021 and can be...
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General Motors Co. announced the execution of an unsecured $14.5 billion revolving credit facility consisting of a $10.5 billion five-year facility and a $4.0 billion three-year facility. The facility amends and extends GM's existing $12.5 billion...
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Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on a $42.5 million senior credit facility to support the acquisition and future growth initiatives of Alloy Wheel Repair Specialists, Inc. (“Alloy”) by private...
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Citizens Bank announced that Citizens Commercial Banking is leading a new $600 million senior secured credit facility for Rochester, N.Y.-based Monro Muffler Brake, Inc.Founded in 1957, Monro Muffler Brake, Inc. provides a wide range of automotive...
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February 10, 2016, 07:58 AM
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TCF Capital Funding (TCFCF), a division of TCF National Bank, announced that it provided secured financing to support the refinancing of Dubin Clark & Company portfolio company, Restoration Parts Group, Inc., and its acquisition of Auto Accessories...
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January 15, 2016, 07:19 AM
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TCF Capital Funding (TCFCF), the Chicago-based cash flow and asset-based lending division of TCF National Bank, announced that it increased its existing credit facilities to support an add-on acquisition for Superior Capital Partners’ Rostra...
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November 11, 2015, 08:00 AM
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Monroe Capital announced the participation in a senior secured credit facility to support Holley Performance Products, Inc.’sacquisition of MSDP Group by private equity sponsor, Lincolnshire Management, Inc.Holley and MSD are cornerstone brands in...
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October 06, 2015, 07:14 AM
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UCI Holdings Limited, the parent company of UCI International, LLC, announced that it and certain of its subsidiaries entered into a senior secured asset-based revolving credit facility with an aggregate lender commitment of up to $125 million....
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October 01, 2015, 07:41 AM
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The Watermill Group announced the acquisition of Quality Metalcraft, Inc. (QMC), a leading producer of engineered structural metal components and assemblies, providing advanced prototype, low-to-medium volume production and factory assist services to...
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The financial press reported that Tesla filed a Form 8-K filing last week with the Securities and Exchange Commission, noting that the company has raised nearly $500 million in credit from leading banks around the country, ahead of the Model X...
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Motorcar Parts of America has entered into a $125 million credit facility with PNC Bank National Association consisting of a $100 million revolver and $25 million term loan.Loans outstanding under the new credit facility bear interest, at the company...
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Franklin Square Capital Partners announced the origination of a unitranche term loan to finance a dividend recapitalization of Dent Wizard International Corp. (Dent Wizard), the largest vehicle reconditioning servicer in the U.S. and Canada. Dent...
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February 09, 2015, 07:24 AM
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Superior Industries International announced that it has successfully closed a $100 million senior secured revolving credit facility. As previously announced, Superior entered into a commitment letter with J.P. Morgan Securities LLC (the “Lead...
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December 23, 2014, 07:44 AM
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Square 1 Bank announced that it has provided a credit facility to new client, Renovo Motors, an automotive engineering company specializing in electric vehicle systems (EV). Proceeds will be used to provide additional working capital and drive...
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November 05, 2014, 06:58 AM
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TCF Capital Funding ("TCFCF")provided the financing to support the refinancing of Dubin Clark portfolio company, Restoration Parts Group, Inc. (“RPG” or the “Company”), and its acquisition of The Right Stuff Detailing. Founded in 1973 and...
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October 20, 2014, 07:47 AM
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Federal-Mogul Holdings Corporation, a leading global supplier of automotive components, technologies and services, announced it has successfully secured $2.6 billion to refinance existing debt.Federal-Mogul Holdings Corporation entered into an...
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Visteon Corporation entered into a credit agreement for a total commitment of $800 million, including a $600 million seven-year term loan B with a final maturity date of April 9, 2021, and a $200 million five-year revolving credit facility with a...
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Ally Financial Inc. announced that it has completed the renewal of $11.5 billion in credit facilities at both the parent company and at its banking subsidiary, Ally Bank, with a syndicate of 19 lenders. The secured facilities can be used to fund...
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GB Credit Partners announced it has participated in its first European transaction, which will serve as the foundation of its broader lending strategy for the European market.
The loan is part of a €75 million facility arranged and led by funds...
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February 11, 2014, 07:17 AM
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Chrysler Group LLC (“Chrysler Group”) announced today that it plans to offer up to $2.7 billion in aggregate principal amount of secured senior debt securities. Chrysler Group also announced plans to commence marketing additional senior secured term...
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January 30, 2014, 07:11 AM
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Lithia Motors has completed a $1.0 billion five-year revolving syndicated credit facility with 13 institutions that will expire in December 2018. The facility can be expanded to $1.25 billion in total availability.The revolving facility will provide...
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December 19, 2013, 11:11 AM
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Accuride Corporation closed on a new $100 million ABL credit facility with Wells Fargo Capital Finance, lead arranger and administrative agent; BMO Harris Bank, syndication agent; and Deutsche Bank. The new facility, which includes a $10 million FILO...
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