Daily News: August 17, 2017

BofA Business Capital Provides $40MM ABL to Bridgewater Interiors

Bank of America Business Capital provided a $40 million asset-based revolving credit facility to Bridgewater Interiors. Proceeds were used to provide ongoing working capital financing to support its growth objectives.

Detroit-based Bridgewater Interiors supplies seating and overhead systems to automotive OEM customers. The company operates four production facilities, with three in Michigan and one in Alabama.

Bridgewater Interiors is a certified Minority Business Enterprise (MBE) and was established in 1998 as a joint venture between Detroit-based Epsilon Technologies and Adient US (formerly Johnson Controls). Today, the company generates more than $2 billion in revenues and employs more than 2,000 people.

“Bank of America Merrill Lynch is pleased to work with the Bridgewater Interiors management team as they execute on their growth plan,” said Jeff McLane, president of Bank of America Business Capital. “We respect their role in leading the way for other Minority Business Enterprises throughout the automotive industry and beyond as they continue to grow their own business.”