FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Sound Point Capital Provides Financing to Dura Automotive

July 18, 2022, 07:41 AM
Filed Under: Automotive

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”).  Dura will use proceeds of the facility to support the continued growth across its three core business segments, including its electric vehicle (BEV) battery trays business unit.

“MiddleGround is excited to broaden our relationship with Sound Point. The Strategic Capital team was able to provide a highly bespoke facility that will allow Dura to continue to execute on rapid growth across their core business units, especially in and around Electric Vehicle battery trays,” said Tyler May, a Senior Associate on MiddleGround Capital’s investment team.

“We are excited to support Dura’s next phase of growth. MiddleGround Capital’s industry expertise was evident throughout our process, and we look forward to future transactions with their impressive team,” added Morgan Dean, a Managing Director in Sound Point Capital’s Strategic Capital business.

The Strategic Capital team at Sound Point partners with sponsors and management teams to provide debt capital for a variety of uses, including M&A, working capital, and owner distributions.  We focus on complex transactions that require flexible solutions, including asset-based, cash flow and hybrid facilities. Transaction size ranges from $50 - $500 million.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.