Victory Park Capital’s (VPC) SBIC Fund has provided a senior credit facility to help finance the acquisition of GLE Precision, 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,” says Jason Brown (pictured), 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, says: “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.”
