Monroe Capital has provided a senior credit facility to back RFE Investment Partners‘ recapitalization of Hastings Manufacturing Company. No financial terms were disclosed. Based in Hastings, Michigan, Hastings is a maker of piston rings for combustion engines.
Chicago, IL, May 3, 2018 – Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the recapitalization of Hastings Manufacturing Company (“Hastings”) by private equity sponsor, RFE Investment Partners.
Based in Hastings, Michigan and founded in 1915, Hastings is a leading, global manufacturer and supplier of piston rings for combustion engines, both gasoline and diesel, used in a broad range of automotive and industrial applications. In addition to the headquarters and manufacturing facility in Michigan, Hastings operates Piston Rings Komarov, a manufacturing and warehousing facility in The Czech Republic.
About Monroe Capital
Monroe Capital LLC (“Monroe”) is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides senior and junior debt financing to businesses, special situation borrowers, and private equity sponsors. Investment types include unitranche financings; cash flow, asset based and enterprise value based loans; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management, and private equity and independent sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Dallas, Los Angeles, New York, and San Francisco. Monroe has been recognized by Private Debt Investor as the 2017 Lower Mid-Market Lender of the Year; Global M&A Network as the 2017 Small Middle Markets Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit monroecap.com.