Norwalk-based GE Capital is providing a $70 million lifeline to a Michigan-based industrial and automotive product manufacturer.
The cash flow loan will be used by EP Management Corp. to refinance its debt and recapitalize the company.
EP Management manages Wolverine Advanced Materials and EP Minerals. The company was founded in 1843, and emerged from bankruptcy in 2006 with a portfolio of businesses.
“In today’s slow growth environment, good companies are optimizing their balance sheets, focusing on financing and fueling their core business,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “Long-term customer relationships, in-depth industry knowledge and significant financial commitments mean smarter liquidity solutions for clients.”
