Auburn Hills auto parts maker gets $73 mill for expansion, debt

Automotive parts maker Unique Fabricating, Inc. is getting a $73 million loan from Citizens Bank, and will use the money for expansion and to refinance debt. Unique Fabricating, based in Auburn Hills, makes non-metallic die-cut parts for auto makers as well as the appliance, industrial HVAC and commercial water heater markets.

Citizens Bank (NYSE: CFG) announced that Citizens Commercial Banking is leading a $73 million credit facility for Unique Fabricating, Inc. (NYSE: UFAB), a leading supplier of components to customers in the automotive and various industrial markets. Citizens is the sole lead arranger, bookrunner and administrative agent.

A Citizens client since 2013, Unique Fabricating engineers and manufactures innovative solutions composed of multi-material foam, rubber and plastic components that are utilized in noise, vibration and harshness (NVH) management, acoustical management, water and air sealing, decorative and other functional applications.

The new credit facility will be used to refinance existing debt and provide additional capital to fund projected growth. It was structured to be flexible to accommodate Unique Fabricating’s recent expansion of its North American operations.

“Citizens bankers are trusted strategic and financial advisors who deliver valuable, clear and objective advice,” said John Weinhardt, President and CEO of Unique Fabricating, Inc. “The industry expertise and close attention to detail that the Citizens team brought to our transaction made for a seamless and timely execution.”

“At Citizens, we try to think about the needs of our clients from their point of view and offer holistic solutions,” said Rick Hampson, President of Citizens Bank, Michigan. “Leading flexible credit facilities so our clients can grow is just one of the ways that Citizens delivers substantial value for our clients at every stage of their business life cycle.”

The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.