Great Rock Capital closed a $27.9 million senior secured term loan facility for GT Technologies (GTT), a manufacturer of custom-engineered valvetrain components and assemblies for the global automotive, heavy-duty truck and off-road vehicle industries. GTT is a portfolio company of Industrial Opportunity Partners.
The term loan facility refinanced a portion of GTT’s existing debt and provides the company with additional capital to support growth. Great Rock Capital partnered with GTT’s existing revolver lender, a commercial banking institution, to create the financing structure.
“Great Rock was very responsive to our business needs and worked with us to customize and fund a structure that will provide additional liquidity and growth capital,” Dan Brinker, president of GT Technologies, said. “We believe strong relationships are vital to our company’s 100-plus year operating history and we look forward to our new partnership with Great Rock.”
“GTT has built a reputation for excellence as a mission-critical supplier for the automotive industry,” Stuart Armstrong, CEO of Great Rock Capital, said. “Their longstanding customer relationships and business expertise have created an industry-leading platform, and we look forward to playing a part of their ongoing success.”
“The flexibility and capital provided with Great Rock’s credit facility will allow GTT to unlock future growth potential,” Kyle Hood, managing director at Industrial Opportunity Partners, said. “We look forward to working with both teams as GTT navigates the next stage of business growth.”