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ACH buyer Zeledyne receives $80 million in financing

Post Time:May 08,2008Classify:Industry NewsView:181

Tulsa-based Zeledyne LLC, which acquired the glass operations of Automotive Components Holdings in April, received an $80 million asset-based credit facility from Bank of America Business Capital, according to a May 8 release from BOA. ACH was a division of Ford Motor Co."We selected Bank of America Business Capital to lead this transaction because of its extensive experience financing companies in the automotive industry,” said Zeledyne Chairman Robert Price in the release. “This loan should provide the financial flexibility to transition to a stand-alone entity and the liquidity to help us grow our share of a competitive market.”Zeledyne owns three glass manufacturing plants to supply customers in three areas. Automotive glass is manufactured and sold directly to original equipment manufacturer suppliers; after market glass is sold through distributors under the Carlite brand; and commercial glass including products for windows, curtain walls, entryways, partitions and table tops are sold under the Versalux trademark.

Source: http://www.glassmagazine.com/news-item/commercial/ach-buyer-zeledyne-receives-80-million-financingAuthor:

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