LBC Credit Partners Recapitalizes MPI Products

LBC Credit Partners, a provider of financing solutions to middle market companies, said on Thursday that it has recapitalized MPI Products with a $35,000,000 second lien term. A portfolio company of Monomoy Capital Partners, the Rochester Hills, Michigan-based MPI is a producer of components for powertrain systems, hydraulic systems and other automotive and industrial applications.


PHILADELPHIA, June 27, 2013 /PRNewswire/ — LBC Credit Partners (“LBC”), a leading provider of financing solutions to middle market companies, announced that it was Administrative Agent and Lead Arranger for a $35,000,000 second lien term loan to support the recapitalization of MPI Products, LLC (“MPI”), a Monomoy Capital Partners portfolio company acquired last fall. MPI is the latest investment by Monomoy Capital Partners in the automotive parts industry.
This transaction is a continuation of the strong relationship between LBC and Monomoy. Ease, reliability and certainty of execution were factors in Monomoy’s choice of LBC. LBC was pleased to support Monomoy’s goal of building out its investment portfolio in the automotive parts industry with the addition of MPI.
Headquartered in Rochester Hills, Michigan, MPI is North America’s leading manufacturer of high-precision, fineblanked metal components for powertrain systems, hydraulic systems and other safety-critical automotive and industrial applications. Their automotive customers include several large car makers and a wide array of Tier I automotive suppliers. The Company employs over 700 team members at four North American manufacturing facilities and its corporate headquarters in Michigan.
Monomoy Capital Partners is a private equity firm with $700 million in committed capital that makes control equity investments in middle market businesses in the manufacturing, distribution, consumer product and food service industries. Over the past five years, Monomoy has closed nearly 40 middle market acquisitions, and its companies currently produce over $1.2 billion in combined sales and employ more than 4,000 people across four continents, from North America to Asia. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth.
About LBC Credit Partners
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $1.3 billion of committed capital, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has additional offices in New York City and Chicago.