Colfax Creek Recapitalizes Premier Engineered Products

BIRMINGHAM, MI - Colfax Creek led the recapitalization of its portfolio company, Premier Engineered Products, in partnership with MidCap Business Credit, which has provided a new credit facility to fuel the company's growth.

Premier Engineered Products operates through its subsidiary, Appalachian Cast Products, which is renowned for producing high-quality aluminum die-cast parts, tooling, metal finishing, and CNC machining. The company leverages state-of-the-art machinery and cutting-edge processes at its facility in Abingdon, VA.

Rusty Bramlett, Senior Vice President of MidCap Business Credit, LLC, said, "Working with Colfax and Premier Engineered Products allowed MidCap to quickly underwrite this transaction and provide working capital to fund the business growth. We look forward to working with Premier as they continue their commitment to delivering high-quality metal casting proudly "Made in America."

Jason Duzan, Principal at Colfax Creek, added, "MidCap's financing team was exceptional, moving quickly and addressing issues proactively, ensuring a smooth and efficient process when time was of the essence. This recapitalization not only strengthens the company's balance sheet but also positions Premier Engineered Products for significant growth, both organically and through strategic acquisitions."

About Colfax Creek Capital

Colfax Creek takes a long-term approach to acquire strategically viable manufacturing businesses located a drive from Detroit with a recurring revenue and high free cash flow model, but with ownership succession, operational improvement opportunities, and addressable business risks, creating a value creation opportunity. Our company's founder-led culture of integrity, continuous improvement, and long-term stewardship continues. We pride ourselves on doing what we say and achieving success through our business managers' and employees' dedication and expertise to produce lasting company value. For more information, visit https://www.colfaxcreek.com.

About Appalachian Cast Products

Appalachian Cast Products, a subsidiary of Premier Engineered Products, specializes in producing high-quality aluminum and zinc alloy die-cast parts, tooling, metal finishing, and CNC machining. Utilizing state-of-the-art machinery, our engineers and production staff are experts in high-pressure die-casting processes, delivering economical and reliable parts. The company is headquartered in Abingdon, VA.