LBC Credit Partners, a provider of financing solutions to middle market companies, has funded a USD45m unitranche loan to support the refinancing of Audax Private Equity’s portfolio company Arnold Magnetic Technologies.
Arnold is one of the largest magnetic product manufacturers in the world producing a wide range of both permanent and soft magnetic products and assemblies at facilities in the US, the UK, Switzerland and China.
Arnold has thousands of customers within markets that include consumer, industrial, medical, military, aerospace and telecommunications.
"We are pleased to have provided a one-stop financing solution that will allow Arnold’s management team and Audax to meet the growth objectives for their business," says Homyar Choksi (pictured), a managing director with LBC. "We look forward to working with Audax and the management team."
Oliver Ewald, managing director of Audax Private Equity, says: "We are excited to partner with LBC to support the continued success of Arnold. Together we will provide management with the operational and financial resources to continue on their growth trajectory."
