LBC Credit Partners Provides Senior Credit Facility to Compass Automotive Group

Oct 18, 2010
Deal announcements

LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced the funding of a $24 million senior secured term loan to support the refinancing of Compass Automotive Group, a manufacturer of safety-critical automotive components cast from aluminum and magnesium.

"We are pleased to have structured a financing solution that supports Monomoy Capital Partners and management's growth initiatives for Compass," said Homyar M. Choksi, Principal at LBC Credit Partners. "At LBC, we work closely with private equity sponsors to provide flexible solutions to support various types of middle market transactions."

"We are very happy with LBC's support for and role in this refinancing which has positioned Compass for continued success by giving it the flexibility to pursue strategic goals and operational improvements," said Nate Bard, Vice President of Monomoy Capital Partners, the company's equity sponsor.

LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, mezzanine debt and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a "lend and hold" strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America. For additional information please visit

Monomoy Capital Partners, L.P. is a private equity fund that makes controlling investments in middle market companies. With $640 million under management, the Fund has completed 28 transactions in the smaller end of the middle market over the past four years and currently owns 11 businesses that collectively employ more than 5,000 people. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth. For additional information on Monomoy and its portfolio companies, please visit