Victory Park Capital Supports Acquisition of GLE-Precision with Credit Facility and Equity Co-investment in Precision Machining Industrygleprecision
AUGUST 13, 2015 Press Release-
The following text was taken from a Press Release on August 13, 2015
Victory Park Capital Acquisition of GLE-Precision
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-Precision 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 acquisition of GLE-Precision investment will support the acquisition of GLE-Precision 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.
Who is GLE-Precision?
“GLE-Precision’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 (VPC) is a privately held registered investment advisor dedicated to alternative investing through the management of its investment vehicles. As specialists in credit and private equity investments, VPC focuses on middle market companies across a diversified range of industries. Whether as a lender or a control investor, VPC seeks to identify opportunities where it believes the potential for reward outweighs the risks entailed. Founded in 2007, VPC is headquartered in Chicago with additional resources in Los Angeles, New York and San Francisco. For more information visit: www.victoryparkcapital.com.
Founded in 1961 and headquartered in Bridgeport, MI, GLE-Precision 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-Precision manufactures components and tooling for manufactures in the medical field, aerospace and defense, fiber optic and semiconductor industries to name a few. GLE-Precision 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. Capabilities for GLE-Precision include small parts(ID/OD/OAL: .002” [.0508mm] or less), lapping (.4RA [.01016 micron] or less) and precision tolerances (.000003” [.000076mm] or less).
For more information visit: www.gle-precision.com.