Wells Fargo Capital Finance UK acted as the agent and lead arranger for a $45 million asset-based credit facility for Arlington Industries, an automotive and aerospace manufacturing company.

Backed by Cartesian Capital Group, Arlington Industries integrates supply chains across aerospace and automotive markets to deliver greater efficiency to global original equipment manufacturers. Wells Fargo worked closely with Arlington, its debt advisor Clearwater and its bank Shawbrook to deliver the senior debt and cash flow facility. The secured loan will be used to fund Arlington’s acquisition of the automotive mechanical engineering firm Magal Engineering Group. The additional working capital will be used to support the growth of the enlarged £170 million ($217.9 million) turnover group.

“I’m delighted to continue our strong relationship with Shawbrook and I look forward to working with Wells Fargo. The funding and Magal Engineering Group acquisition allows the Arlington Industries Group to grow its Aerospace and Automotive divisions organically and by further acquisitions in the UK and with Brexit looming, more international growth,” said Mark Franckel, group CEO of Arlington Industries.