Middle market financing provider LBC Credit Partners provided $41 million in senior secured credit facilities to support Hidden Harbor Capital Partners’ acquisition of Cloyes Gear & Products’ aftermarket division.
LBC served as agent and sole lead arranger on the facilities.
Founded in 1921 and based in Fort Smith, AR, Cloyes develops, designs, manufactures and distributes timing drive systems and components for replacement applications in the automotive aftermarket and high-performance racing segment.
Hidden Harbor Capital Partners is an operationally focused private equity firm specializing in control investments in lower middle market companies.
