FrontWell Capital Partners closed a C$25 million ($18.69 million) secured credit facility with Mara Technologies and Mara Technologies USA, a manufacturer of electronic boards and assemblies focused in infrastructure, broad band communications and power management systems. Mara is a subsidiary of the Invotek Group, a global provider of electronics manufacturing services based in Markham, Ontario.

The facility, comprised of a revolver and a term loan, will be used by Mara to refinance its existing debt and will provide additional working capital liquidity to support Mara’s growth and its expansion into the United States. Mara is in the process of launching a new manufacturing facility in Holly, MI to accommodate a new contract with one of Mara’s existing customers and to add capacity in the United States for the battery power management market.

“We are pleased to partner with Mara to provide a tailored financing solution that will enable the company to capitalize on significant growth opportunities,” Patrick Dalton, CEO of FrontWell, said. “This transaction is a testament to the strength of the FrontWell brand in a competitive lending environment, and I am proud of our team’s hard work to deliver a creative, cross-border structure that addresses the unique capital needs of a company as innovative and promising as Mara.”

“FrontWell’s Canadian presence and expertise in the middle-market were important factors in our decision to partner with them,” Paul LaCroix, CEO of Mara Technologies, said. “We appreciate FrontWell’s responsiveness and collaborative approach to structuring a capital solution that will enable us to execute our business plans.”

Editor’s Note: This article was updated to correct a conversion error from Canadian dollars to U.S. dollars. The U.S. dollar amount was $18.69 million, not $93.1 million. ABF Journal apologizes for the error.