CIBC US Asset Based Lending recently provided NW Automotive Group, LLC, a portfolio company of New Water Capital, dba LUXIT, with a new Senior Credit Facility to support working capital and growth needs, as well as provide a full suite of banking products and services.
LUXIT is a company of world-leading technology experts in vehicle small lamp design and manufacturing, serving OEMs and Tier 1 customers separately under two divisions:
- MYOTEK: the Tier 1 division based in Farmington Hills, MI, is highly regarded as a leading designer, manufacturer, and supplier of innovative vehicle lighting.
- SEA LINK: the Tier 2 division based in Largo, FL, is a leading supplier of vehicle lighting and infotainment components as well as light weight engineering and manufacturing solutions.