"Victory Park has been a great partner for us in every sense of the word. They are collaborative, creative and eager to help us find solutions. I would gladly recommend them to any company looking for a strategic capital provider to help grow their business."
– Al Goldstein, CEO
Avant Credit Corporation
CHICAGO – December 17, 2014 – Victory Park Capital (“VPC”), an asset management firm focused on middle market debt and equity investments, announced today it has provided a credit facility to help finance the acquisition of Saran Industries, LP (“Saran”) by Titan Equity Partners, LLC (“Titan”). Saran provides industrial finishing services for forgings, castings, and machined parts used primarily by automotive OEMs. VPC’s partnership with management and Titan allowed for a recapitalization of Saran and positions the company for continued growth with existing and new customers.
“We are excited to announce this opportunity to work with a sponsor as experienced in this sector as Titan and an operationally excellent management team in Nick and Sam Saran,” said Tom Affolter, Principal of VPC. “We have great confidence that Titan is the right team to lead Saran through its next phase of growth,” Affolter added.
Tony Pesavento, Managing Partner of Titan, said “VPC was extremely flexible when structuring their credit facility for the Saran transaction. We are very pleased that VPC was able to bring a financial solution to the table that ultimately allowed us to acquire such a great business. We look forward to partnering with them again in the future.”
Founded in 1964 and headquartered in Indianapolis, Indiana, Saran is a full service provider of industrial finishing and custom processing for forgings, castings, and machined parts for regional foundries and automotive manufacturers. Service include shot blasting and shot peening, surface inspection, casting impregnation, and other services designed to smooth, strengthen, shape, and/or test forged parts. For further information, visit: www.saranindustries.com.
Titan Equity Partners, LLC is a private equity firm that serves the mid-market. The firm typically invests in consumer product manufacturers, food manufacturers, specialty distributors, industrial and auto related manufacturing, and unique service providers. . Titan works with management to craft pro-active strategic plans. Titan Equity Partners recognizes management’s pivotal role in the value creation process and views it as essential that key managers participate meaningfully in the equity returns of the enterprise. Titan Equity Partners, LLC is based in Chicago, Illinois. For further information, visit: www.titanequity.com.
Victory Park Capital is a privately held registered investment advisor dedicated to alternative investing through the management of private investment funds. As specialists in credit and private equity investments, VPC focuses on middle market companies across a diversified range of industries. Whether as a lender or a control investor, VPC seeks to identify opportunities where it believes the potential for reward outweighs the risks entailed. Founded in 2007, VPC is headquartered in Chicago with additional resources in Boston, London, Los Angeles, New York and San Francisco. For further information, visit: www.victoryparkcapital.com.