Garrington Capital announced its role as co-agent along with Great Elm Commercial Finance in a USD $12 million equipment financing facility to support the acquisition efforts of a long-standing supplier to the automotive industry based in Ohio, USA.

The borrower, a manufacturer specializing in forged steel components, will use the Credit Facility to acquire a complementary business operating in the same sector. With significant unencumbered equipment on hand and substantial real estate backing, the borrower was able to unlock liquidity to complete the transaction.

“This financing exemplifies the type of creative, asset-backed lending Garrington brings to middle-market businesses,” said Tammy Kemp, President and Chief Credit Officer at Garrington Capital. “We were impressed by the company’s deep industry roots, the durability of its product line, and the strength of the collateral available. The fact that a well-capitalized public entity ultimately backs the business gave us further confidence.”

Garrington Capital acted as co-agent on the transaction in collaboration with established asset-based lender, Great Elm Commercial Finance. “We welcomed the opportunity to work alongside an established lending partner, combining our expertise to structure and execute a financing solution aligned with the borrower’s timeline and strategic goals,” Kemp added.

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