Naugatuck aeroparts maker Gar Kenyon got a $2.7 million financing package from First Niagara Financial Group to refinance existing debt and for working capital, authorities say.
Gar Kenyon’s parent, SAF Industries LLC, is signatory to the package consisting of a $1.6 million term loan, an $850,000 line of credit, and a $250,000 capital expenditures facility, bank and company officials announced Tuesday.
Gar Kenyon makes master brake cylinders, parking brake valves, shuttle valves, restrictors, shutoff valves, safety relief and check valves.
Other product offerings also include main landing gear door actuators, flap actuators made at its 44,000-square-foot production facility at 283 Water St. in Naugatuck.