WhiteHorse Capital provided a new first lien credit facility to Westinghouse Electric & Manufacturing, with proceeds used to support the acquisition of Midwest Equipment Sales (MWE), one of its largest licensees, as well as to refinance existing debt and pay related transaction expenses.
“The acquisition of MWE is a monumental moment for Westinghouse, allowing us to restore our legacy as both a manufacturer and a product innovator,” James Cline, CEO of Westinghouse, said. “This partnership with WhiteHorse Capital strengthens our ability to drive forward with our vision while continuing to deliver high-quality products that embody the Westinghouse name. Additionally, it will allow our licensing partners to leverage the scale and relationships MWE has built with many national retailers, creating even greater opportunities for growth and success across our brand.”
“It was a pleasure working with James and the Westinghouse team, and we look forward to seeing the continued growth and innovation they bring to the brand in the coming years through the acquisition of MWE,” Pankaj Gupta, president and global head of originations at WhiteHorse Capital, said.
