Opus Bank's Corporate Finance division provides financing for the recapitalization of Katzkin Leather, Inc. on behalf of ClearLight Partners, LLC
Overview of Transaction
Katzkin Leather, Inc. (“Katzkin”) designs, manufactures, and distributes custom leather interiors for virtually any vehicle on the road today. As the global leader in the industry, Katzkin is constantly expanding its offering of leather interiors and currently has patterns for thousands of vehicle applications.
Katzkin has outfitted almost two million vehicles since its founding in 1983.
Significance of Transaction
ClearLight Partners, LLC (“ClearLight”), founded in 2000, is a private equity firm based in Newport Beach, CA. ClearLight has a diverse company portfolio covering multiple industries. ClearLight is currently investing out of its third $300 million fund, ClearLight Partners III.
Opus Bank (“Opus”) provided a simplified debt structure for the client using a combination of term debt and a revolving line of credit that will allow the company to focus on continued growth of the business.
Opus Bank's Role
Opus worked with the management team and ClearLight to quickly determine the best recapitalization structure that would allow for the most flexibility for the company’s continued growth.