PLATINUM EQUITY'S CREDIT TEAM PROVIDES TERM LOAN TO WESTFALL TECHNIK

LOS ANGELES, June 13, 2024 /PRNewswire/ -- Platinum Equity announced today it provided a First-Lien Term Loan to Westfall Technik to refinance existing indebtedness and support future growth of the business. 

Westfall Technik is a vertically-integrated manufacturer of injection molded plastic components that primarily serves the healthcare and consumer packaged goods end markets. The company provides design, tooling, molding and assembly capabilities to service the complete lifecycle of molded plastic parts.

Westfall Technik is owned by Lee Equity Partners and BlackBern Partners.

"We are pleased to have delivered speed and certainty for Westfall Technik at a time when the market remains complex for middle-market borrowers," said Platinum Equity Co-Presidents Jacob Kotzubei and Louis Samson in a joint statement. "We have a lot of experience in the manufacturing and packaging sectors. That industry knowledge combined with Platinum's partnership-focused approach allowed us to create and underwrite a financing solution that is uniquely tailored to the borrower's needs."

The Westfall Technik financing is led by Platinum Equity's dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.

"Our goal is to serve as a real strategic partner and deploy Platinum's financial and intellectual capital to add material value for borrowers and their sponsors," said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. "We think Westfall is a great fit for our approach. The company has a well-diversified customer base, impressive scale and operates in markets we know well. We are excited to partner with Lee Equity and BlackBern to support Westfall Technik's growth and evolution."

Platinum's credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America.

"Our credit team is actively looking for additional opportunities to support borrowers and their sponsors as they pursue their strategic objectives," added Fabiano.

Houlihan Lokey acted as the sole lead placement agent to Westfall Technik.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions and debt financings.

Contact:

Dan Whelan
Platinum Equity
[email protected]

SOURCE Platinum Equity