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LBC Credit Partners Provides $60MM to High Performance Industries, Inc.

April 10, 2013, 07:46 AM
Filed Under: Manufacturing

LBC Credit Partners (LBC), a leading provider of financing solutions to middle-market companies, announced the firm agented a $60 million senior secured term loan to High Performance Industries, Inc. (HPI), a portfolio company of New York based private equity group Monomoy Capital Partners. The proceeds were used to increase an existing credit facility to support the acquisition of Quick Fuel Technology Inc. and to fund a dividend recapitalization.

LBC was the agent, sole lead arranger and sole bookrunner for this transaction.

HPI is a manufacturer of high-performance automotive aftermarket products. They manufacture products such as carburetors, electronic fuel injection kits, exhaust headers and fuel pumps, marketing them under well-known brands like Holley, Hooker Headers, Flowtech, Earl's and Weiand.

Quick Fuel Technology is the premier manufacturer of modular carburetors and fuel system components for the racing, marine and aftermarket performance community. They are the leaders in E85 carburetor technology, dedicated to providing solutions for alternative fuels for the racing and high performance automotive markets.

With $700 million in assets under management, Monomoy Capital Partners is a private investment firm dedicated to constructive investing and business improvement in the lower middle market. They target companies with revenues between $50 and $500 million which are fundamentally sound but may be facing operational, financial or business challenges. They create value for their investors and portfolio companies by giving managers the financial, strategic and operational resources they need to succeed.

 LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions.

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