Cambridge Savings Bank’s asset-based lending team provided a $4 million credit facility to GWA Auto Parts, an importer, distributor and online retailer of automotive aftermarket parts, to support working capital investments as the company pursues growth through catalog expansion and M&A efforts.
After GWA was acquired by JMH Capital Partners, a middle-market private equity firm based in Boston, the auto part manufacturer was in search of financing to support the growth of the business and its associated working capital needs. The growth plans for the business have added working capital requirements beyond the company’s previous financial institution’s capabilities. As a result, JMH Capital sought a banking partner that offered it the flexibility to meet GWA’s potential for growth and build on its e-commerce presence.
“JMH partnered with GWA to support the human resource needs and capital needs of the business as they navigate the accelerating growth of automotive aftermarket parts sold through e-commerce channels,” Tatum Bevis, managing director at JMH Capital, said. “Cambridge Savings Bank has supported our efforts to expand GWA’s business from the get-go. Their quick and efficient service delivery positioned GWA to take advantage of future growth opportunities and further establish credibility in the automotive aftermarket category.”
Now on track to reach their business objectives at GWA, Bevis and his team are actively looking to purchase other businesses in need of recapitalization.
“We are honored that JMH Capital trusted Cambridge Savings Bank to build tailored lending solutions that accelerate GWA Auto Parts’ future growth,” John Bobbin, senior asset-based lending officer at Cambridge Savings Bank, said. “Our asset-based lending team is eager to support the unique needs of businesses throughout our community by bringing a personal touch to lending that empowers the growth of each of our customers.”
