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TCFCF Provides $18.5MM in Superior Capital’s Refi of Rostra

November 10, 2014, 07:49 AM
Filed Under: Manufacturing

TCF Capital Funding (TCFCF), the Chicago-based cash flow and asset-based lending division of TCF National Bank, announced that it provided $18.5 million of secured financing to support the refinance of Rostra Precision Controls, Inc. (“Rostra” or the “Company”) and the add-on acquisition of Vehicle Safety Manufacturing (“VSM”) to Rostra’s Accessories Division.  Rostra is an existing portfolio company of Detroit based, Superior Capital Partners, LLC. 

Rostra Precision Controls, Inc. is headquartered in Laurinburg, NC and provides a diverse array of automotive powertrain and functional electronic accessory components with applications in the repair, aftermarket, and OEM channels.   VSM is a Newark, NJ based manufacturer of turn-signal switches and lighting products that are sold primarily to the heavy duty market.

“The acquisition of VSM expands the product lineup in Rostra’s electronic accessories business and provides a meaningful presence in the heavy duty truck OEM and aftermarket channels” said TCF Capital Funding Vice President Dan Delgadillo.  He added, “The TCF Capital Funding team is excited to support Superior Capital Partners and company management in this accretive acquisition”.

TCF Capital Funding provides cash flow and asset-based lending to lower middle market businesses. National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA. 

Superior Capital Partners, LLC is based in Detroit, MI and manages a private equity fund focused on making control investments in special situations in the lower middle market.  Superior looks to invest into underperforming, underfunded or distressed companies with an identifiable path to growth and profit improvement.

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