KKSP Precision Machining, LLC
Overview
| Deal Type |
Debt Capital Markets |
|---|---|
| Size |
$30 Million Asset-Based Revolving Credit Facility |
| Client & Transactional Partners |
KKSP Precision Machining, LLC Pine Grove Holdings, LLC |
| Our Role |
Administrative Agent Sole Lender |
Summary
On June 24, 2022, KeyBanc Capital Markets (KBCM) and KeyBank Business Capital successfully closed a $30 million Asset-Based Revolving Credit Facility for KKSP Precision Machining, LLC (KKSP or the Company), following its sale to Pine Grove Holdings, LLC. Proceeds of this transaction will be used to finance a portion of the acquisition, refinance existing indebtedness, support working capital, and for future strategic acquisitions. KBCM acted as Administrative Agent and Sole Lender on this transaction.
Headquartered in Glendale Heights, IL, KKSP is a manufacturer of high-volume turned metal components for sale to the automotive, construction, HVAC and appliance, heavy duty truck and equipment, and other diversified consumer and industrial segments. KKSP machines more than 350mm units annually for approx. 1,500 unique SKUs. Most parts are made of brass, bronze and copper, and steel, with the remaining made of aluminum. The Company has more than 250 customers, which include Parker Hannifin, Tyco, and Danfoss.
