Victory Park Capital Announces Credit Facility to Support Titan Equity Partners’ Acquisition of Saran Industries
Press Release
Dec 17, 2014
CHICAGO – December 17, 2014 – Victory Park Capital (“VPC”), an asset management firm focused on middle market debt and equity investments, announced today it has provided a credit facility to help finance the acquisition of Saran Industries, LP (“Saran”) by Titan Equity Partners, LLC (“Titan”). Saran provides industrial finishing services for forgings, castings, and machined parts used primarily by automotive OEMs. VPC’s partnership with management and Titan allowed for a recapitalization of Saran and positions the company for continued growth with existing and new customers.
“We are excited to announce this opportunity to work with a sponsor as experienced in this sector as Titan and an operationally excellent management team in Nick and Sam Saran,” said Tom Affolter, Principal of VPC. “We have great confidence that Titan is the right team to lead Saran through its next phase of growth,” Affolter added.
Tony Pesavento, Managing Partner of Titan, said “VPC was extremely flexible when structuring their credit facility for the Saran transaction. We are very pleased that VPC was able to bring a financial solution to the table that ultimately allowed us to acquire such a great business. We look forward to partnering with them again in the future.”
About Saran
Founded in 1964 and headquartered in Indianapolis, Indiana, Saran is a full service provider of industrial finishing and custom processing for forgings, castings, and machined parts for regional foundries and automotive manufacturers. Service include shot blasting and shot peening, surface inspection, casting impregnation, and other services designed to smooth, strengthen, shape, and/or test forged parts. For further information, visit: www.saranindustries.com.
About Titan Equity Partners
Titan Equity Partners, LLC is a private equity firm that serves the mid-market. The firm typically invests in consumer product manufacturers, food manufacturers, specialty distributors, industrial and auto related manufacturing, and unique service providers. . Titan works with management to craft pro-active strategic plans. Titan Equity Partners recognizes management’s pivotal role in the value creation process and views it as essential that key managers participate meaningfully in the equity returns of the enterprise. Titan Equity Partners, LLC is based in Chicago, Illinois. For further information, visit: www.titanequity.com.
About Victory Park Capital
Victory Park Capital Advisors, LLC (“VPC”) is a privately held, SEC-registered, global alternative investment firm. VPC provides opportunistic capital solutions to both emerging and established businesses with an expertise investing across various sectors where traditional sources of capital are limited. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities and broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional offices in New York, Los Angeles and San Francisco. For more information, please visit www.victoryparkcapital.com.