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.
Presrite Corporation engaged Candlewood Partners to serve as its exclusive financial advisor in connection with the refinancing of its existing credit facility. Facing a maturing term loan and seeking to position the business for long-term growth, the Company sought an asset-based lending solution that would leverage its substantial collateral base and provide a more flexible structure to support working capital needs and future strategic initiatives.
Candlewood managed the process of sourcing and arranging a customized credit facility designed to refinance existing obligations and provide ongoing working capital. In addition, Candlewood worked closely with the Presrite management team throughout the engagement on financial modeling, collateral analysis, and coordinating 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.
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Candlewood Partners, LLC
Established 2001
