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Ares Commercial Finance Provides $100MM Senior Secured Credit Facility to Pace Industries

November 16, 2020, 08:35 AM
Filed Under: Manufacturing

Ares Commercial Finance announced that it has provided a $100 million senior secured credit facility to Pace Industries, LLC, an entity owned by funds and accounts managed by TCW Asset Management Company and by affiliated funds and accounts of Cerberus Capital Management, L.P. Headquartered in Fayetteville, Arkansas, Pace Industries is one of North America’s largest high-pressure aluminum, magnesium and zinc die casting companies serving over 400 OEMs/Tier 1 customers. The credit facility consists of a senior secured revolving line of credit, which will be used to refinance its existing revolving line of credit and for ongoing working capital support.

Strategically located throughout North America, Pace operates a diverse manufacturing footprint with 12 die cast plants in the USA and Mexico, 2 tool and die shops, 2 finishing and painting facilities, 1 plastic injection molding plant and 1 machine and fixture building shop. Pace offers a wide array of services and capabilities to blue-chip house-hold name customers across numerous industries including automotive and trucking, powersports, barbecue grills, recreational vehicles, lawn and garden, lighting, electrical, medical, defense and aerospace.  Pace offers unmatched end-to-end value-added solutions which include early supplier engineering support and design, post-casting machining and other finishing services including shot blasting, impregnation, tumbling, chromating, wet painting, powder coating, polishing and assembly.

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