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LBC Credit Partners Provides $35MM Second Lien Facility for MPI Products Recap

June 28, 2013, 07:35 AM
Filed Under: Manufacturing

LBC Credit Partners (LBC) announced that it was administrative agent and lead arranger for a $35 million second lien term loan to support the recapitalization of MPI Products, LLC (MPI), a Monomoy Capital Partners portfolio company acquired last fall. MPI is the latest investment by Monomoy Capital Partners in the automotive parts industry.

This transaction is a continuation of the strong relationship between LBC and Monomoy. Ease, reliability and certainty of execution were factors in Monomoy's choice of LBC. LBC was pleased to support Monomoy's goal of building out its investment portfolio in the automotive parts industry with the addition of MPI. 

Headquartered in Rochester Hills, MI, MPI is North America’s leading manufacturer of high-precision, fineblanked metal components for powertrain systems, hydraulic systems and other safety-critical automotive and industrial applications. Their automotive customers include several large car makers and a wide array of Tier I automotive suppliers. The company employs over 700 team members at four North American manufacturing facilities and its corporate headquarters in Michigan. 

Monomoy Capital Partners is a private equity firm with $700 million in committed capital that makes control equity investments in middle market businesses in the manufacturing, distribution, consumer product and food service industries.

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. With over $1.3 billion of committed capital, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has additional offices in New York City and Chicago.

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