Precision Kidd Steel Refinances Its Credit Facility
V&A Capital is pleased to announce that it has refinanced the credit facility of its portfolio company, Precision Kidd Steel, Co. Inc. (“PK”), a leading manufacturer of precision engineered, high-quality cold-drawn steel bar, wire and special shapes.
PK will use the proceeds to pay-down certain existing debt obligations and to further build on its expansion plans, including investing in new machinery and equipment to drive operational improvements.
“We are very excited to work with our new lender to pursue Precision Kidd’s growth initiatives. The new facility will further bolster the PK’s liquidity and cash flow and will enable us to invest in equipment, people and manufacturing processes, as well as pursue add-on acquisitions”said Nicolò Vergani, Founder and Managing Partner of V&A Capital.