Candlewood Partners is pleased to announce its role as exclusive financial advisor to Presrite Corporation in connection with the refinancing of its senior credit facility.
Headquartered in Cleveland, Ohio and founded in 1971, Presrite is a leading provider of engineered closed-die forging solutions. The Company operates four facilities equipped with 20 high-capacity mechanical presses, and serves customers across critical industries including off-highway, automotive, agriculture and military. Presrite’s differentiated capabilities include near-net gear manufacturing, in-house die production, and metallurgical and simulation expertise.
Candlewood was engaged by Presrite to source and structure a custom financing package backed by Presrite’s substantial asset base, the proceeds of which would be used to refinance the Company’s existing debt facility and to provide incremental working capital. In addition, Candlewood worked closely with the Presrite management team on financial modeling, collateral analysis, and coordination of due diligence. The flexible solution was tailored to Presrite’s operational needs and strategic priorities, strengthening the Company’s balance sheet and positioning it for long-term growth.
Regarding the deal’s successful closing, Jim Hoppel, CFO, stated, “Candlewood was an invaluable resource in finding the right capital partner – the process played out precisely as they outlined at the beginning.”
This successful capital raise underscores Candlewood’s commitment to crafting bespoke financing solutions that meet the unique needs of middle market clients.
Read more about our latest deal announcement
ABOUT PRESRITE CORPORATION
Presrite Corporation is a long-standing forging manufacturer with over 50 years of experience delivering precision-engineered, closed-die components for mission-critical applications. Headquartered in Cleveland, Ohio, the company operates multiple facilities equipped with advanced mechanical presses and in-house tooling capabilities. Presrite partners with a diverse mix of blue-chip customers across the off-highway, automotive, military, energy, and industrial sectors. Known for its near-net gear production and metallurgical expertise, Presrite excels at creating tailored forging solutions that drive performance, efficiency, and long-term customer value.
ABOUT CANDLEWOOD PARTNERS
Candlewood Partners is a Cleveland, New York, and South Florida-based boutique investment bank and advisory firm. Since 2001, Candlewood has supported the needs of middle market companies worldwide, successfully tackling complex engagements that others will not.
Candlewood Partners, LLC
Established 2001
