PHILADELPHIA, Jan. 27, 2015 /PRNewswire/ -- LBC Credit Partners ("LBC"), a leading provider of financing solutions to middle market companies, agented a $20.0 million second lien term loan to Defiance Metal Products Inc., a portfolio company of Taglich Private Equity LLC. Proceeds of the loan were used to facilitate a recapitalization and a buyout of certain minority shareholders.
LBC Credit Partners served as Administrative Agent and Sole Lender for the second lien term loan facility.
Defiance Metal Products is headquartered in Defiance, Ohio and has production facilities in Ohio, Arkansas, Wisconsin and Pennsylvania. The company is a leading full-service, precision manufacturer of low to medium volume, complex, engineered components and assemblies for the commercial vehicle market. Defiance serves leading original equipment manufacturers in the medium to heavy-duty commercial truck, bus, military vehicle, agricultural vehicle and commercial construction equipment markets.
Taglich Private Equity LLC is a financial sponsor which has been investing since 2001 in lower middle market manufacturing, business service and consumer product companies. They have completed transactions totaling over $500 million funded primarily with capital provided by Taglich Brothers, Inc., a full-service brokerage firm managing capital in both public and private investments.
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 $1.75 billion of capital commitments, 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 Chicago and Greenwich. To learn more about LBC Credit Partners, visit www.lbccredit.com.
Information as of June 2014.
Phone: (610) 631-5702
SOURCE LBC Credit Partners