Brightwood and PhenixFIN Provide Senior Secured Credit Facility and Preferred Equity Facility to Support the Refinancing of MB Precision Investment Holdings LLC
PhenixFIN Corporation (PFX)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Brightwood Capital Advisors, LLC (“Brightwood”), a private credit firm, and PhenixFIN Corporation (“PhenixFIN”), a publicly traded business development company (NASDAQ: PFX), today announced that they have partnered with Insight Equity (“Insight”) to provide a senior secured credit facility and preferred equity facility to support the refinancing of MB Precision Investment Holdings LLC (“Precision” or the “Company”) d/b/a Midstate Machine. Jim Ashton, former Chairman of the Board and CEO of Precision Partners, will be joining the Company’s Board of Directors as part of this transaction. The financial terms of the transaction were not disclosed.Precision is a provider of high-precision components and assemblies for the aerospace, defense, and industrial sectors, with manufacturing facilities located in Winslow, ME, Cincinnati, OH, and Phoenix, AZ. The company offers a comprehensive range of engineering services and collaborates closely with clients to del
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