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Golub Capital Provides One-Loan Debt Facility to Support Whitcraft Refi

June 04, 2015, 07:49 AM
Filed Under: Manufacturing

Golub Capital announced that as administrative agent, sole lead arranger and sole bookrunner, it provided a GOLD financing to support the refinancing of Whitcraft LLC by Linsalata Capital Partners. GOLD financings are Golub Capital's One-Loan Debt facilities.

Whitcraft is a leading manufacturer of precision formed, machined, and fabricated flight-critical aerospace components. Since Whitcraft was founded in the 1960s, the company has developed solid, long-term relationships with the global leaders in the gas turbine industry including Pratt & Whitney, General Electric, Honeywell, Siemens, Rolls-Royce and the United States government. Whitcraft is also a prime supplier to major global Tier 1 revenue-sharing partners including MTU, GKN, Samsung Techwin and Mitsubishi Heavy Industries.

"This transaction marks our fifth platform investment with Linsalata and our first GOLD financing for them," noted Stefano Robertson, a Managing Director at Golub Capital.  "We are very excited about the continued partnership we have both with the team from Linsalata as well as the senior management at Whitcraft, who we have known since 1998.  Whitcraft is a recognized leader in its markets in which it competes and has a strong reputation for quality.  We are excited to support the Company's growth initiatives."

Murad Beg, a Principal at Linsalata Capital, said, "Golub Capital has been a strong supporter of ours and has always understood our long-term investment objectives as it relates to Whitcraft.  They delivered a seamless and efficient financing that lowered Whitcraft's total cost of capital.  Partnering with Golub allows management to focus on the business and our related goals.  We look forward to working with them again in the near future."

Golub Capital's award winning middle-market lending team structures financing solutions with hold positions of up to $250 million. The team also underwrites and syndicates senior credit facilities and a proprietary suite of GOLD (one-loan debt) facilities, up to $500 million. Golub Capital has been a top 3 US Middle Market Bookrunner each year from 2008 through Q1 2015 for senior secured loans of up to $500 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals).

Located in the Cleveland suburb of Mayfield Heights, Ohio, Linsalata Capital Partners was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle-market companies. In its more than 31 years of investing, the firm has completed 106 buy-side transactions totaling more than $3 billion. Linsalata Capital Partners is currently investing from its seventh fund, Linsalata Capital Partners Fund VI, L.P., with $427 million in committed equity capital.

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