Brightwood and PhenixFIN Provide Senior Secured Credit Facility and Preferred Equity Facility to Support the Refinancing of MB Precision Investment Holdings LLC
Brightwood Capital Advisors and PhenixFIN (NASDAQ: PFX) have partnered with Insight Equity to provide senior secured credit and preferred equity facilities for refinancing MB Precision Investment Holdings The company, operating as Midstate Machine, is a provider of high-precision components for aerospace, defense, and industrial sectors, with facilities in Maine, Ohio, and Arizona. Jim Ashton, former CEO of Precision Partners, will join the company's board. The refinancing aims to support Precision's growth initiatives and enhance its service offerings, though financial terms were not disclosed.
Brightwood Capital Advisors e PhenixFIN (NASDAQ: PFX) hanno collaborato con Insight Equity per fornire finanziamenti senior garantiti e capitale preferenziale per il rifinanziamento di MB Precision Investment Holdings. L'azienda, che opera come Midstate Machine, è fornitrice di componenti ad alta precisione per i settori aerospaziale, della difesa e industriale, con stabilimenti nel Maine, Ohio e Arizona. Jim Ashton, ex CEO di Precision Partners, entrerà a far parte del consiglio di amministrazione dell'azienda. Il rifinanziamento ha l'obiettivo di sostenere le iniziative di crescita di Precision e migliorare la sua offerta di servizi, sebbene i termini finanziari non siano stati divulgati.
Brightwood Capital Advisors y PhenixFIN (NASDAQ: PFX) se han asociado con Insight Equity para proporcionar créditos garantizados senior y facilidades de capital preferente para el refinanciamiento de MB Precision Investment Holdings. La empresa, que opera como Midstate Machine, es un proveedor de componentes de alta precisión para los sectores aeroespacial, de defensa e industrial, con instalaciones en Maine, Ohio y Arizona. Jim Ashton, ex CEO de Precision Partners, se unirá a la junta de la empresa. El objetivo del refinanciamiento es apoyar las iniciativas de crecimiento de Precision y mejorar su oferta de servicios, aunque no se divulgaron los términos financieros.
Brightwood Capital Advisors와 PhenixFIN (NASDAQ: PFX)은 Insight Equity와 협력하여 MB Precision Investment Holdings의 재융자를 위한 선순위 담보 대출 및 우선주 시설을 제공하고 있습니다. 이 회사는 Midstate Machine으로 운영되며, 항공우주, 방위 및 산업 부문을 위한 고정밀 부품 공급업체로 메인, 오하이오, 아리조나에 시설을 두고 있습니다. Jim Ashton는 Precision Partners의 이전 CEO로서 회사의 이사회에 합류할 것입니다. 재융자의 목적은 Precision의 성장 추진 및 서비스 제공 개선을 지원하는 것이며, 재무 조건은 공개되지 않았습니다.
Brightwood Capital Advisors et PhenixFIN (NASDAQ: PFX) se sont associés à Insight Equity pour fournir des crédits garantis senior et des capitaux propres préférentiels pour le refinancement de MB Precision Investment Holdings. L'entreprise, opérant sous le nom de Midstate Machine, fournit des composants de haute précision pour les secteurs aérospatial, de la défense et industriel, avec des installations dans le Maine, l'Ohio et l'Arizona. Jim Ashton, ancien PDG de Precision Partners, rejoindra le conseil d'administration de l'entreprise. Le refinancement vise à soutenir les initiatives de croissance de Precision et à améliorer ses offres de services, bien que les conditions financières n'aient pas été divulguées.
Brightwood Capital Advisors und PhenixFIN (NASDAQ: PFX) haben sich mit Insight Equity zusammengeschlossen, um Senior Secured Credit und bevorzugte Eigenkapitalanlagen für die Refinanzierung von MB Precision Investment Holdings bereitzustellen. Das Unternehmen, das unter dem Namen Midstate Machine tätig ist, ist Anbieter von hochpräzisen Komponenten für die Luft- und Raumfahrt-, Verteidigungs- und Industriebranchen, mit Standorten in Maine, Ohio und Arizona. Jim Ashton, ehemaliger CEO von Precision Partners, wird dem Vorstand des Unternehmens beitreten. Die Refinanzierung zielt darauf ab, die Wachstumsinitiativen von Precision zu unterstützen und das Dienstleistungsangebot zu verbessern, auch wenn die finanziellen Bedingungen nicht offengelegt wurden.
- Strategic refinancing secured to support growth initiatives
- Addition of experienced board member Jim Ashton
- Diversified manufacturing presence across three states
- Strong market position in aerospace and defense sectors
- None.
Insights
This strategic refinancing deal represents a significant financial restructuring for MB Precision, combining both senior secured credit and preferred equity facilities. While specific financial terms weren't disclosed, the transaction strengthens the company's capital structure and provides growth capital. The partnership with established firms like Brightwood Capital and PhenixFIN (market cap:
The refinancing positions MB Precision for expansion in the lucrative aerospace and defense sectors, where high-precision manufacturing commands premium margins. The addition of Jim Ashton, former CEO of Precision Partners, to the board brings valuable industry expertise that could help optimize operations and pursue strategic opportunities.
For PhenixFIN shareholders, this deal represents portfolio diversification into the industrial manufacturing sector with potential for steady returns through both debt and equity components. The structure of combined senior secured debt and preferred equity provides multiple layers of investment protection while maintaining upside exposure.
MB Precision's multi-facility footprint across Maine, Ohio and Arizona creates strategic advantages in serving diverse aerospace and defense customers. The company's focus on high-precision components for mission-critical applications typically generates higher margins and creates significant barriers to entry, protecting market position.
The refinancing should enable investment in advanced manufacturing capabilities and automation - critical for maintaining competitiveness in aerospace precision manufacturing. This sector requires constant technology upgrades to meet increasingly stringent tolerances and quality requirements. The involvement of Insight Equity, known for operational improvements in industrial companies, coupled with new board leadership, suggests a focus on operational excellence and scaling capabilities.
Precision is a provider of high-precision components and assemblies for the aerospace, defense, and industrial sectors, with manufacturing facilities located in
“We are excited to collaborate again with our valued partners at PhenixFIN to support this transaction,” said Scott Porter, Managing Director and Co-Head of Originations at Brightwood. “This refinancing marks an important strategic milestone for Precision, empowering the Company to build on its core platforms and scale its offerings to better serve its clients. This partnership will position Precision to effectively pursue its next phase of growth and long-term success.”
“The combined expertise of Brightwood and PhenixFIN was critical in the success of this transaction, and we are excited about this new partnership,” said Mike Heinold, Chief Financial Officer of the Precision management team. "Their strategic insights and support will be invaluable as we move forward in pursuing our growth objectives."
“Brightwood and PhenixFIN have been exceptionally supportive throughout this process, fully understanding our financial goals and providing valuable counsel and expertise to help us realize our vision for Precision,” said Paul Pesek, Senior Vice President at Insight. “Their combined knowledge of the aerospace, defense, and industrial sectors has been instrumental, and the support from this refinancing will enable the Company to pursue key growth initiatives. We look forward to their continued partnership as we embark on our next chapter.”
“We value our longstanding partnership with Brightwood and are excited to engage with them on another transaction,” said David Lorber, Chairman & Chief Executive Officer at PhenixFIN. “As a flexible capital provider, we are committed to supporting Precision during this pivotal growth inflection point, leveraging our industry experience to contribute to their continued success.”
About Brightwood Capital Advisors
Brightwood Capital Advisors, LLC is a private credit firm with a long-standing track record of investing in middle-market businesses. Brightwood specializes in providing senior debt capital primarily to
Founded in 2010, Brightwood is a minority-owned firm with a team of over 50 employees who manage approximately
About PhenixFIN
PhenixFIN Corporation (NASDAQ: PFX) is an internally managed, closed-end, business development company (“BDC”). PhenixFIN’s management has a broad network of relationships and deep expertise in originating, structuring, executing and managing credit and equity investments. Our portfolio generally consists of senior secured first lien loans, senior secured second lien loans, and equity. PhenixFIN is headquartered in
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Media
Brightwood Capital Advisors
Ben Howard
bhoward@prosek.com
(914) 552-4281
Investors
Brightwood Capital Advisors
info@brightwoodlp.com
PhenixFIN Corporation
Ryan Phalen
rphalen@phenixfc.com
Source: Brightwood Capital Advisors, LLC
FAQ
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