Monroe Capital has provided $27.5 million in financing to support the acquisition of Fabco Automotive by Wynnchurch Capital. Fabco makes specialty gearbox, axle and transfer case products for all-wheel drive, medium and heavy duty vehicles.
Monroe Capital LLC today announced the funding of a $27.5 million unitranche facility to support the acquisition of Fabco Automotive Corporation Partners by Wynnchurch Capital, Ltd.
Based in Livermore, CA, Fabco is a leading North American supplier of highly engineered, specialty gearbox, axle and transfer case products for all-wheel drive, medium and heavy duty vehicles used in severe service applications. Prior to the acquisition by Wynnchurch, Fabco was a subsidiary of Accuride Corporation.
Tom Aronson, Managing Director at Monroe Capital, said, “Our unitranche facility was ideally suited to finance the acquisition of Fabco. A corporate divestiture is always a more challenging transaction. We were very impressed with the Wynnchurch team and look forward to assisting them in the execution of their growth plans.”
John Hatherly, President and Managing Partner of Wynnchurch, stated, “We appreciated Monroe Capital’s efforts in closing this complex transaction in a timely manner and look forward to working with them in our pursuit of add-on acquisitions.”
About Monroe Capital
Monroe Capital is a private investment firm providing senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, bridge loans, acquisition facilities, mezzanine debt, second lien or last-out loans, equity co-investments and acquisitions of distressed debt. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. Monroe is committed to being a value-added and user-friendly partner to owners, senior management and private equity sponsors.