Debt Advisory

Debt facility ensures off-highway wheels deal success

FRP advises Aurelius on lending options for off-highway wheels acquisition

Background

Asset management company Aurelius Equity Opportunities (Aurelius) approached FRP to assist them in the acquisition of GKN Wheels and Structures from GKN. The target company is based in Telford in the UK, Denmark, and Iowa, USA; is a leading manufacturer of off-highway wheels components mainly for agriculture, but had become a non-core asset for GKN. Given the complexity of the geographic footprint, and the nature of the asset base, Aurelius approached FRP for support in raising debt to finance both the acquisition and ongoing working capital.

Action

Our Debt Advisory team sourced offers of debt from lenders in both the UK and US to finance the acquisition. We provided comparative analysis of these offers and a detailed view on the respective debt capacity versus existing debt offers. We then assisted with the legal completion of the transaction.

Outcome

The transaction was completed successfully, with a facility across the assets in the UK and US.

With the working capital facility in place, Aurelius will continue to build on GKN Wheels and Structure market-leading position and optimise future growth.

With the working capital facility in place, Aurelius will continue to build on GKN Wheels and Structures' market-leading position and optimise future growth. Dave Edwards Debt Advisory

Related team

Andrew Dimmock

Andrew Dimmock

  • Partner
  • Debt Advisory
  • London

Dave Edwards

Dave Edwards

  • Partner
  • Debt Advisory
  • London

Nick Grainger

Nick Grainger

  • Partner
  • Debt Advisory
  • London