Crown Partners Arranges $130 Million Senior Financing for Global Automotive Manufacturer
Crown Partners announced today that it served as exclusive financial advisor to Superior Industries International, Inc. (“Superior”) on the closing of a $130 million senior financing facility with PNC Bank, N.A. The transaction completes the Company’s recapitalization following its acquisition by Oaktree and other institutional investors.
Superior is one of the largest global manufacturers of premium aluminum wheels, with manufacturing operations and customer programs across North America and Europe. The financing enhances the Company’s liquidity and financial flexibility to support its long range plan.
““Crown worked closely with our finance team to understand the scale and complexity of Superior’s manufacturing footprint, packaged the opportunity effectively for lenders, and drove a disciplined financing process. Their command of our asset base, operations and strategic priorities was instrumental in helping us secure meaningful liquidity for the business.””
Crown Partners structured and arranged a senior financing that allowed Superior to leverage its global asset base. The transaction highlights Crown’s experience advising companies and sponsors on senior financing strategies for businesses with multinational operations.
““Crown brought specialized expertise, judgment and resourcefulness to this transaction, helping the investor group evaluate capital structure alternatives across Superior’s global asset base. They anticipated key issues, positioned the opportunity effectively for lenders, and maintained control of the process throughout, ultimately delivering a financing solution that achieved our objectives.””
About Crown Partners
Crown Partners is an investment banking firm focused on asset-based finance and collateral-driven credit. The firm advises leading private credit firms and asset managers on investment strategy, transaction evaluation and portfolio advisory across the asset-based finance market. Crown Partners also serves sponsors and corporate relationships on financing solutions for asset-heavy businesses and portfolio companies. The firm combines deep subject-matter expertise, senior relationships and relentless focus to help clients achieve their strategic objectives. Crown Partners has offices in New York, Chicago, West Palm Beach and Manila.
About PNC BANK, N.A.
PNC Bank, National Association is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking, including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance, and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.