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News Stories (46 Results) - Automotive

Eclipse Business Capital provided a $101.2 million senior secured credit facility, consisting of an ABL revolving line of credit and term loan to an automotive parts manufacturer.  The credit facility is secured by accounts receivable, inventory, and... Read Story
July 09, 2024, 07:42 AM

Fisker Group, the operating subsidiary of Fisker Inc., announced that it filed for Chapter 11 protection in the District of Delaware on June 17, 2024. It is in advanced discussions with financial stakeholders regarding debtor-in-possession financing... Read Story
June 19, 2024, 07:36 AM

Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support Dealer Services Network’s (“DSN”) acquisition of Express OMV. DSN is an existing portfolio company of Frontenac. Based in South... Read Story
May 23, 2024, 07:23 AM

Solifi announced the launch of ESG Portfolio Strategist, as the latest innovative application in its product suite. Enabling automotive finance businesses to operationalise ESG strategy within their existing leasing workflow, ESG Portfolio Strategist... Read Story
May 16, 2024, 07:45 AM

Runway Growth Capital announced a $40 million commitment to CarNow, a live-data automotive technology platform that helps dealers elevate the car-buying experience by transforming the way they connect with customers.This strategic investment will... Read Story
April 17, 2024, 08:00 AM

When a California-based aftermarket automotive supplier needed to increase its working capital after acquiring a competitor, Republic stepped in to provide more availability and a larger credit facility to support its cashflow.    The private... Read Story
March 13, 2024, 07:07 AM

LSQ recently originated a $3 million account receivable credit facility for a Georgia-based auto parts manufacturer. The company was referred to LSQ by a wealth management advisor. The additional working capital will be used to pay off an existing... Read Story
February 02, 2024, 07:39 AM

Great Rock Capital closed a $40 million senior secured term loan facility with Fisher Dynamics. Fisher is a vertically integrated supplier of engineered seating structures and safety mechanisms to major OEMs and Tier 1 automotive suppliers... Read Story
November 14, 2023, 07:58 AM

Drift Capital, an alternative asset manager providing fractional investments in a diversified portfolio of collectible automobiles, launched its inaugural Drift Capital Fund I, L.P. (the “Drift Fund” or “Fund”). The closed-end Drift Fund, the first... Read Story
September 25, 2023, 07:48 AM

LSQ, a leading provider of working capital and payments management solutions, recently originated a $5 million credit facility for an automotive parts producer. The manufacturer had been struggling to meet its obligations to its suppliers and had to... Read Story
September 21, 2023, 06:00 AM

Alvarez & Marsal (A&M) appointed Sohin Chinoy as a Managing Director in the Automotive & Industrials Group (AIG). This appointment follows the growth of AIG under leader Rick Kozole, and bolsters AIG's record for delivering operational performance... Read Story
June 23, 2023, 07:31 AM

Lendbuzz closed a $125 million credit facility with Royal Bank of Canada. The additional warehouse capacity will support continued loan origination growth.The expansion increases the company’s capacity and ability to grow the number of borrowers its... Read Story
May 11, 2023, 07:54 AM

Jonathan Vukanovich, CPA has  been named a Director of the Automotive Industry Practice of Getzler Henrich & Associates.Vukanovich will be based in Detroit, Michigan and brings 17 years of experience in finance and restructuring to Getzler Henrich.... Read Story
April 14, 2023, 07:22 AM

Superior Industries International, one of the world’s leading light vehicle aluminum wheel suppliers for OEMs and the European aftermarket, refinanced its term loan and revolving credit facilities. Funds managed by Oaktree Capital Management provided... Read Story
December 20, 2022, 07:49 AM

O2 Sponsor Finance, a division of Old Second National Bank, provided $13,350,000 in senior secured credit facilities to support West Edge Partners acquisition of Dakotaland Autoglass ("DAG" or the "Company").DAG is a leading distributor and service... Read Story
November 22, 2022, 07:49 AM

Tricolor closed a $100 million warehouse facility with Cincinnati-based Fifth Third Bank,  secured by loans originated across its growing footprint, which spans five states, 20 markets and 55 retail hubs.“The addition of Fifth Third Bank to our... Read Story
September 12, 2022, 07:52 AM

Solution Financial, a leading provider of luxury automotive and yacht leasing in Canada, closed a $15 million Credit Facility with ATB Financial. This facility is replacing the existing $12.5 million facility.Highlights: Adds an additional $2.5... Read Story
September 12, 2022, 07:43 AM

Eclipse Business Capital (“EBC”) provided a $10 million senior secured revolving credit facility in the automotive marketing industry. The credit facility is secured by accounts receivable and will be used to refinance an existing facility and to... Read Story
September 08, 2022, 07:34 AM

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”). ... Read Story
July 18, 2022, 07:41 AM

Lucid Group announced entry into a Credit Agreement (the "Credit Agreement") on June 9, 2022. Bank of America is the administrative agent and swingline lender on the transaction. Other lenders in the initial bank syndicate include Citigroup; Barclays... Read Story
June 16, 2022, 07:31 AM

LBC Credit Partners provided a senior secured credit facility to Aterian Investment Partners to support the acquisition of ATCO Industries, Inc.LBC served as Agent and Sole Lead Arranger for the senior secured credit facility.ATCO was family-founded... Read Story
June 08, 2022, 07:46 AM

Standard Motor Products entered into a new five-year $500 million credit facility, with JPMorgan Chase Bank, as agent, and a syndicate of lenders, which includes a $100 million term loan and $400 million revolving credit facility (the “New Credit... Read Story
June 03, 2022, 07:10 AM

eCapital closed a $21 million working capital line of credit to a Southern California automotive company.  Operating profitably in a competitive industry for over a decade, the company previously met its specialized funding needs via private... Read Story
May 23, 2022, 07:44 AM

Encina Equipment Finance (EEF) provided a $20 million loan to an automobile repair company for the purchase of various equipment for new store locations.  EEF was represented by Reed Smith LLP.For more equipment finance industry news, visit Equipment... Read Story
May 23, 2022, 07:36 AM

Kyte, a company pioneering cars delivered to you on-demand, closed an asset-backed credit financing of up to $200 million from Goldman Sachs and the Ares Global Management Alternative Credit Team to accelerate the company's fleet growth and margin... Read Story
March 25, 2022, 08:08 AM

Solifi announced a collaboration with BlackBerry Limited that will integrate BlackBerry IVY with the company’s open finance platform to drive innovative, high-impact finance use cases for OEMs and automotive finance providers. Solifi becomes the... Read Story
January 27, 2022, 07:40 AM

PNC Bank announced the closing of a $28.89 million senior secured credit facility for KOST USA, Inc (KOST). PNC Bank served as administrative agent. Established in 1985 and based in Cincinnati, Ohio, KOST is the largest family-owned manufacturer... Read Story
February 07, 2019, 07:19 AM

Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Magneto & Diesel Injector Service, Inc. (M&D Distributors) by private equity sponsor, Warren... Read Story
February 05, 2019, 07:16 AM

MB Business Capital, a division of MB Financial Bank, N.A., announced it acted as sole lender and administrative agent on the funding of a $13,085,000 senior credit facility to Walled Lake, Michigan-based Dedoes Industries, LLC (“Dedoes”). Dedoes is... Read Story
December 19, 2018, 08:03 AM

Universal Logistics Holdings, Inc., a provider of customized transportation and logistics solutions, announced that it has closed on a new $350.0 million syndicated credit facility. The credit facility consists of a $150.0 million term loan and a... Read Story
November 29, 2018, 07:54 AM

AloStar Capital Finance successfully agented and closed a $20 million committed credit facility to facilitate the recent acquisition of Fenix Parts, Inc. (Fenix Parts), a leading recycler and reseller of original equipment manufacturer automotive... Read Story
September 18, 2018, 07:10 AM

Mizuho Americas announced the strengthening of its North American Banking coverage with three new Managing Director appointments. Andrew Karnovsky will cover automotive, Angela McCracken will focus on energy, and Heidi Sandquist will cover food and... Read Story
August 15, 2018, 08:08 AM

Motorcar Parts of America, Inc. announced it has entered into a new five-year $230 million credit facility led by PNC Bank, National Association consisting of a $200 million revolver and $30 million term loan, replacing a previous credit facility... Read Story
June 08, 2018, 07:06 AM

Abacus Finance Group, LLC (Abacus), a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced that it served as Administrative Agent and Lead Arranger for... Read Story
May 24, 2018, 07:00 AM

On 19 March 2018, Michelin announced that it had reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued share capital of Fenner PLC. It is intended that the Acquisition will be implemented by means of a... Read Story
April 09, 2018, 07:13 AM

TCF Capital Funding, a division of TCF National Bank which is a subsidiary of TCF Financial Corporation, announced that it provided secured financing to support Superior Capital Partners and Rostra Precision Controls, Inc. (Rostra) in their... Read Story
February 09, 2018, 07:13 AM

Monroe Capital and SNH Capital Partners I, LP announced the funding of an $80 million senior credit facility to National Credit Center (NCC), an SNH portfolio company. Monroe acted as sole lead arranger and administrative agent on the funding of the... Read Story
January 16, 2018, 07:25 AM

Access National Bank announced that Roy L. Giese has joined Access National Bank as a Senior Vice President in the Commercial Lending division. Giese will be concentrating on Automotive Dealership Banking. Giese is a tenured automotive dealership... Read Story
December 21, 2017, 07:00 AM

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $9,050,000 senior credit facility to Tempe, Arizona-based Triumph Manufacturing, LLC. Founded in 1957, Triumph is an automotive parts manufacturer... Read Story
September 13, 2017, 07:20 AM

Bank of America Business Capital has provided a $40 million asset-based revolving credit facility to Bridgewater Interiors, LLC. Proceeds were used to provide ongoing working capital financing to support its growth objectives.Bridgewater Interiors... Read Story
August 17, 2017, 07:11 AM

Lear Corporation, a global supplier of automotive seating and electrical systems, announced that it has entered into a new credit agreement to refinance its existing credit facilities. The new credit agreement consists of a $1.75 billion revolving... Read Story
August 09, 2017, 07:20 AM

Takata, the company linked to 11 deaths in the U.S. resulting from exploding airbags, has filed for bankruptcy and civil rehabilitation, and will sell substantially all of its global assets to Michigan-based Key Safety Systems for $1.588 Billion... Read Story
June 26, 2017, 08:00 AM

Business Capital has structured and secured a $17 million asset based capital facility for Sol Acceptance, a finance company that has been purchasing automobile loans from approximately 30 dealerships in California since 2014.The management team has... Read Story
April 19, 2017, 07:18 AM

Consumer Portfolio Services, Inc. announced that on April 17, 2017 it renewed its two-year revolving credit agreement with the Fortress group of companies. Loans under the renewed credit agreement will be secured by automobile receivables that CPS... Read Story
April 19, 2017, 07:15 AM

Bank of America Business Capital announced it has provided a $30 million asset-based loan to JD Norman Industries, Inc. to refinance existing debt and support the purchase of two subsidiaries of Federal-Mogul Corporation. The business units include a... Read Story
July 26, 2013, 07:42 AM

Bank of America Business Capital recently arranged and agented a $125 million senior secured, asset-based revolving credit facility for Consolidated Container Company. A developer and manufacturer of rigid plastic packaging solutions in North America... Read Story
August 14, 2012, 08:00 AM