FGI Provides $11MM ABL Facility for KSR International
“This is an exciting time for KSR International. As growth and innovation continue company-wide, especially in our Mexico operations, having working capital is imperative. FGI’s ability to understand the nuances of our business and lending in the region, and provide a facility tailored to our needs, makes them the ideal finance provider. We look forward to a long-term partnership.”
KSR International (“KSR”) is an industry leader in designing, engineering, and manufacturing driver interface systems of the future for Tier 1 OEMs. Based in Ontario, Canada with facilities in North America, Europe, and Asia, KSR has become the go-to technology solutions provider for brake pedal modules in the automotive industry.
As its award-winning programs with Tesla and GM were growing in Mexico, KSR sought a financial partner to provide working capital on its assets in the region, as traditional US banks were not able to support collateral there.
FGI structured a flexible, covenant light $11MM working capital facility based on AR in Mexico. This partnership with FGI allows KSR to continue growing its customer programs in Mexico in addition to continuing its rich history of reliable manufacturing, superior customer service, and continual improvement, worldwide.
