AloStar Capital Finance agented and closed a $20 million committed credit facility to support the recent acquisition of Fenix Parts, a recycler and reseller of original equipment manufacturer automotive products, by Stellex Capital Management, a middle market private equity firm with offices in New York and London. Stellex, in partnership with a group of auto industry veterans, acquired Fenix in April 2018.
“This commitment from AloStar helped support our acquisition of Fenix Parts,” said Mike Livanos, a member of Stellex’s investment team. “AloStar’s experienced team of financing professionals took the time to understand our investment thesis and delivered a creative and value-add financing solution that met both the current and future working capital needs of Fenix Parts.”
“We were pleased to deliver a custom capital solution that supported Stellex’s acquisition of Fenix Parts,” said Andy McGhee, president of AloStar Capital Finance. “Stellex’s investment philosophy emphasizes thoughtful discipline and creativity in approach, and we’re confident that this commitment is the beginning of a long-term partnership with Stellex.”