Daily News: November 8, 2019

Fifth Third Business Capital Agents $9.4MM Facility for Amglo Kemlite

Fifth Third Business Capital acted as sole lender and administrative agent on the funding of a new $9.42 million senior credit facility to Bensenville, II-based Amglo Kemlite Laboratories.

The credit facility was used to support Amglo Kemlite’s acquisition by NewCastle Partners and to provide working capital to support future growth.

“This is the second transaction we have done with NewCastle Partners and the first buyout,” said Michael Sharkey, president of Fifth Third Business Capital. “Our team appreciates NewCastle’s experience and hands-on approach in working with management to move their portfolio companies forward.”

“We look forward to working with Grant Hyland, the CEO of Amglo Kemlite, and his executive group to expand our core lighting lamp products organically as well as by product line and corporate acquisitions,” said Jack Lowden, president and chief investment officer of NewCastle Partners. “This was a rather complex transaction for a number of reasons and the Fifth Third team did a terrific job of supporting us at every step of the process.”