Daily News: April 9, 2013

LBC Provides $60MM Term Loan to High Performance Industries

LBC Credit Partners announced it agented a $60 million senior secured term loan to High Performance Industries (HPI), a portfolio company of New York-based private equity group Monomoy Capital Partners. The proceeds were used to increase an existing credit facility to support the acquisition of Quick Fuel Technology and to fund a dividend recapitalization.

LBC was the agent, sole lead arranger and sole bookrunner for this transaction.

HPI is a manufacturer of high-performance automotive aftermarket products. It manufactures products such as carburetors, electronic fuel injection kits, exhaust headers and fuel pumps. The company markets them under brands like Holley, Hooker Headers, Flowtech, Earl’s and Weiand.

Quick Fuel Technology is a manufacturer of modular carburetors and fuel system components for the racing, marine and aftermarket performance community.

With $700 million in assets under management, Monomoy Capital Partners is a private investment firm dedicated to constructive investing and business improvement in the lower middle market.

LBC Credit Partners is a provider of middle-market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions.