Great Rock Capital Closes $40MM Term Loan Facility with Fisher Dynamics
Capital to Support Industry-leading OEM Supplier
Westport, CT – November 14, 2023 -- Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a $40 million senior secured term loan facility with Fisher Dynamics (“Fisher”). Fisher is a vertically integrated supplier of engineered seating structures and safety mechanisms to major OEMs and Tier 1 automotive suppliers worldwide.
The term loan facility was used to refinance a portion of the company’s existing debt and provide growth capital. Great Rock partnered with the revolver lender, a leading commercial banking institution, to create a split-lien structure that will maximize the company’s liquidity. In addition, Great Rock arranged a $25 million capital expenditure line to support the company’s growth.
“Great Rock customized a structure that will provide the company with the financial flexibility to execute on the increased demand for our tailor-made products,” commented Ken Pachla, CFO of Fisher. “We are excited for our financial partnership with Great Rock as we enter the next phase of business growth."
“Fisher has built a reputation for innovative excellence throughout their 115-year operating history,” said Stuart Armstrong, CEO of Great Rock Capital. “We look forward to working with their high caliber management team and playing a role in their ongoing success.”
About Great Rock Capital
Great Rock Capital is an asset-focused commercial finance company that specializes in serving the needs of middle market companies across the United States and Canada. The Company provides fast, flexible, and creative financing solutions that maximize liquidity and provide growth capital. The senior secured credit facilities offered by the firm range in size from $10MM to $75MM and include working capital, term-heavy, and term-only loan structures not provided by traditional commercial lenders. The firm has significant capital commitments from its partners, a private equity business and a large institutional investor. To learn more, visit www.greatrockcapital.com.
About Fisher Dynamics
Fisher Dynamics is the automotive industry’s premier supplier of safety-critical seat structures and mechanisms that help make the driving experience safer, more comfortable, and pleasurable. A family-owned business, Fisher Dynamics brings four generations of manufacturing experience to today’s industry challenges. The worldwide Fisher Dynamics community includes 2,600 members in 5 countries. Challenging our people to create, implement and exceed – and ensuring their safety, health and well-being are important to us. To learn more, visit www.fisherco.com.