Stellex Capital Management has refinanced MSS Products Limited
MSS Products Limited
Founded in 1971, MSS is a UK-headquartered manufacturer of copper-based electrical components and integrated electrical assemblies for blue-chip customers across the energy transmission and distribution market. The company operates manufacturing facilities in India and Poland, with distribution capabilities across Europe and the U.S. MSS serves a diversified global customer base and is positioned to benefit from structural demand drivers including electrification, investment in power infrastructure and the replacement of aging power grids. Since its acquisition by Stellex Capital Management (Stellex) in 2023, MSS has continued to develop its position in high-growth end markets related to global electrification.
The Deal
Lincoln International acted as debt advisor to MSS on the refinancing of its working capital facilities. The transaction replaced MSS’s existing facilities with a larger and more flexible super senior revolving credit facility. The new facility provides committed working capital capacity to support the company’s growth strategy. Given MSS’s international footprint, the refinancing required a lender able to accommodate a flexible security package reflecting local restrictions. Lincoln worked with MSS and Stellex to identify a provider able to deliver this structure alongside the company’s wider financing arrangements. The transaction follows MSS’s term debt refinancing and reflects the complexity of cross-border working capital financing for sponsor-backed businesses with international operations.
Our Perspective
Aude Doyen, Managing Director at Lincoln International, commented, “For growing international manufacturing businesses, working capital facilities need to provide committed liquidity while also reflecting the realities of cross-border operations. For MSS, this meant identifying a lender able to support the company’s growth plans while accommodating a flexible security package, including in relation to its operations in India. The refinancing provides MSS with additional flexibility and is an example of a tailored working capital solution delivered alongside a wider debt structure.”
Stellex Capital Management LLC
With offices in New York, London, Pittsburgh and Detroit, Stellex Capital is a private equity firm with over $5 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insights and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. For more information, visit www.stellexcapital.com.
We believe Lincoln International provided practical advice throughout the refinancing process. Their understanding of our international operations and working capital requirements helped us secure a flexible facility that supports MSS’s continued growth.
Meet our Senior Team in Capital Advisory
View More Transactions in Capital Advisory
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.