Alcentra provides refinancing support to GST Autoleather

United States
Published:  23 July, 2014

Alcentra Capital Corporation announced on July 22 that Alcentra has provided $8.0 million in Senior Subordinated debt to refinance automotive leather makers GST AutoLeather, Inc.

Founded in 1933 and headquartered in Southfield, MI, GST Autoleather is one of the larger global suppliers and producers of interior automotive leather. The Company is a long-standing partner to major OEM and tier-1 customers and clients in North America, Asia, Europe, and South Africa.

Alcentra is an externally-managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Alcentra's investment objective is to generate both current income and capital appreciation primarily by making direct investments in lower middle-market companies in the form of subordinated debt and, to a lesser extent, senior debt and minority equity investments. Alcentra's investment activities are managed by its investment adviser, Alcentra NY, LLC.