Loeb Term Solutions Funds $8MM for Metalworking Firm
Loeb Term Solutions announced it recently funded $8 million to a West Coast metalworking company specializing in aerospace components. LTS said the term loan provided the working capital necessary to restructure the firm and reassume a majority holding of stock in the firm.
Headquartered in the U.S., but with global capabilities in Mexico and the UK, the client is a leading manufacturer of high-precision, close tolerance, large-scale, flight critical components and tooling for the commercial aerospace, defense, space and industrial markets.
“Fundings of this size require a real team effort. We really enjoy working with the borrower, the business broker, and all the professionals involved in a funding like this one,” stated Jim Newman, Loeb Term Solutions’ managing partner. “It is gratifying to be able to help a borrower accomplish something like this.”
This finance deal represents one of two large additions to LTS’ portfolio this month with the other funding totaling just over $12.0 million. Since 2010, LTS has provided funding on over $40 million dollars’ worth of industrial machinery within the food, pharmaceutical, chemical, cosmetic, metalworking, and woodworking industries.