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Wingspire Capital Commits $50MM Financing to Tooling Tech Group

August 15, 2023, 08:00 AM
Filed Under: Machine Tools

Wingspire Capital committed a $35 million senior secured term loan and a $15 million revolver to Tooling Tech Group as the company leans into a new era of growth.

The proceeds will be used to best position the Fenton, Michigan-based company to take advantage of industry tailwinds in support of its disciplined growth strategy, both organically and via compelling M&A opportunities both in the automotive sector and other end markets.

Tooling Tech Group is one of the largest tooling providers in the United States, with more than 600 employees and one million square feet of manufacturing space across 12 modern facilities. The vertically-integrated company offers automation, CNC machining, compression molds, die casting and thermoforming dies, precision stamping dies, and other services that allow them to complete jobs in-house, on-time, and at a competitive price. Its knowledgeable engineering and support staff provides services across the entire tooling lifecycle, from design and engineering to fabrication, testing, repair, and parts production.

In addition to Wingspire Capital’s financing, TCW Asset Management Company LLC agented $75 million in capital as part of a broader $110 million term loan to Tooling Tech Group.

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