LBC Credit Partners announced that it was administrative agent and lead arranger for a $35 million second lien term loan to support the recapitalization of MPI Products, a Monomoy Capital Partners portfolio company acquired last fall. MPI is the latest investment by Monomoy Capital Partners in the automotive parts industry.
Headquartered in Rochester Hills, MI, MPI is a manufacturer of high-precision, fineblanked metal components for powertrain systems, hydraulic systems and other safety-critical automotive and industrial applications. The company’s automotive customers include several large car makers and a wide array of Tier I automotive suppliers.
Monomoy Capital Partners is a private equity firm with $700 million in committed capital that makes control equity investments in middle-market businesses in the manufacturing, distribution, consumer product and food service industries.
LBC Credit Partners is a provider of middle-market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions.