Sound Point Capital Management provided an accounts receivable facility for Dura Automotive, a global designer and manufacturer of highly engineered automotive systems and portfolio company of MiddleGround Capital. Dura will use proceeds of the facility to support the continued growth across its three core business segments, including its electric vehicle (BEV) battery trays business unit.
“MiddleGround is excited to broaden our relationship with Sound Point. The strategic capital team was able to provide a highly bespoke facility that will allow Dura to continue to execute on rapid growth across their core business units, especially in and around Electric Vehicle battery trays,” Tyler May, senior associate at MiddleGround Capital, said.
“We are excited to support Dura’s next phase of growth. MiddleGround Capital’s industry expertise was evident throughout our process, and we look forward to future transactions with their impressive team,” Morgan Dean, managing director at Sound Point Capital, said.