Wabash buyout gets $60 million in financing
Oct 1, 2003 12:00 PM
Fleet Capital Corp has provided a $60 million revolving credit facility to Aurora Trailer Holdings LLC for the management-led buyout of two Wabash National Corp divisions.
Aurora Trailer Holdings acquired the Wabash trailer leasing and rental business and the company's wholesale aftermarket parts distribution business. The loan will also be used to provide for ongoing working capital, letters of credit, and capital expenditures. Aurora Trailer Holdings is a company formed by equity sponsor Jefferies Capital Partners and members of Wabash's management team.
Fleet Capital Corp will also provide cash management products and services.
Jefferies Capital Partners, associated with Jefferies Group Inc, is a private equity investment firm with more than $600 million in funds under management. Jefferies Capital Partners makes middle-market private equity and equity-linked investments in management buyout, industry consolidation, recapitalization, and growth equity opportunities.
Fleet Capital Corp, which has 23 offices throughout the United States, provides asset-based loans and an array of capital markets products to middle-market companies in North America and their foreign subsidiaries. It also provides access to cash management, foreign exchange and derivative products and services.
