Encina Business Credit completed a $75.0 million revolving credit facility for Horizon Global. The facility will be used to replace an existing facility and will provide for ongoing working capital.
Horizon Global entered into a third amendment to its credit agreement, which provided $160 million to repay in the full outstanding principal from the previous loans. JPMorgan Chase served as administrative agent.
Horizon Global entered into an agreement to acquire the Westfalia Group, a leading global towing company. JPMorgan is lead arranger of the expansion of Horizon Global’s term loan to support the buy.