GB Merchant Partners Provides $10 Million Term Loan to Autocam Corporation
BOSTON, MA – GB Merchant Partners, the investment management affiliate of Gordon Brothers Group, announced today that it has provided a $10 million term loan to Autocam Corporation, a Michigan-based auto parts manufacturer with plants located domestically and overseas.
“This loan provided us with vital capital for our recent recapitalization which has significantly deleveraged our balance sheet and allowed us to weather the challenges of the automotive sector and position us for future growth,” stated John Kennedy, CEO of Autocam Corporation. “GB Merchant Partners’ support helped us to achieve a very important turning point in our history.”
Autocam designs and manufactures specialty metal alloy components used in the automotive industry. These components are used to make parts in automotive air bags, brake systems, electric motors, fuel systems and power steering systems.
“We are thrilled to provide Autocam with the necessary financing to help reach their goals,” commented Lisa Galeota, Director at GB Merchant Partners. “The automotive sector has been hit particularly hard during the past year, making liquidity more critical than ever for companies like Autocam. We are looking forward to the future growth of Autocam.”
This term loan to Autocam is an example of how GB Merchant Partners is putting its capital to work to help middle-market companies across a variety of sectors increase liquidity during challenging economic times.
About GB Merchant Partners
GB Merchant Partners (www.gbmerchantpartners.com), the investment management affiliate of Gordon Brothers Group with over $500 million of capital under management, focuses on private equity, structured debt and secondary debt investments. Debt investments are made as structured loans in the form of junior secured, “Tranche B” or enterprise value loans, ranging from $10 to $50 million, to middle-market companies in the distribution, wholesale, industrial, retail, consumer products and real estate sectors. Equity investments are made through the 1903 Equity Fund, which takes majority and minority equity positions in middle-market retail and consumer products companies.