Victory Park Capital Supports Acquisition of GLE with Credit Facility and Equity Co-investment in Precision Machining Industry
Aug 13, 2015
CHICAGO – August 13, 2015 – Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced today its SBIC Fund has provided a senior credit facility to help finance the acquisition of GLE Precision, LLC (GLE). GLE is a precision manufacturer of tungsten carbide tooling, gauges and product components used in diversified industries, including water jet, computer chip, medical, battery, flow technologies, automotive and others. VPC’s investment will support the acquisition of GLE and the company’s growth initiatives as it expands into new end markets. In addition to the credit facility, the fund also co-invested in the equity financing.
“GLE’s reputation for technical competency, extreme micro-precision, quality and reliability is impressive, and represents a significant opportunity for VPC to support the company as it expands its presence in the precision machining industry,” said Jason Brown, partner at VPC. “We look forward to working with Mr. Bucholz and the management team and believe the company is well positioned to execute on its next phase of growth.”
Clint Bucholz, president of GLE, added, “VPC was flexible in structuring their credit facility to allow for the acquisition and to support our growth initiatives, which enables us to expand into new end markets and better serve new and existing customers.”
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.
About GLE Precision
Founded in 1961 and headquartered in Bridgeport, MI, GLE is a niche build-to-print manufacturer of highly-engineered tooling, gauges, and product components used in a broad range of applications where hardness and resistance to abrasive wear are of prime importance. GLE is capable of machining and grinding a wide range of ceramic and carbide products with an emphasis on carbide tooling, carbide components, carbide cylindrical gauges and masters, high pressure intensifiers, and other special wear parts. For more information visit: www.gle-precision.com.