Busche Performance Group Raises New Equity to Bolster Capital Structure and Fuel Growth and Innovation
Busche Performance Group Raises New Equity to Bolster Capital Structure and Fuel Growth and Innovation
06/02/20, 8:09 AM
Location
southfieldBusche Performance Group (BPG) is pleased to announce that it closed on a substantial recapitalization sourced from existing ownership and new enhanced financing by its senior secured credit facility. This will materially strengthen the company's balance sheet, enhance its working capital position and create flexibility for future growth. This action was designed to provide durability to the balance sheet through the COVID-19 pandemic, but more important, add the capital necessary for further growth. This further supports the board's vision of continuing to distinguish BPG from its competitors and further position BPG as a strategically relevant, global supplier-of-choice for the OEMs.
Company Info
Location
southfield, michigan, united states
Additional Info
Busche Performance Group (BPG) is one of the largest vertically integrated casting and machining suppliers of high-quality chassis components in North America. BPG is a leader in the design and manufacture of complex, safety-critical aluminum castings and associated precision machining critical to automotive systems such as chassis, suspension, engine, and driveline, along with agricultural, construction, industrial and refrigeration markets. The company employs nearly 1,400 people in multiple facilities in Indiana, Ohio, Michigan and Alabama. For more information, please visit www.buschegroup.com.