IAC Group Receives Strategic Investment From Gamut Capital Management

Goodmans LLP represented Gamut Capital Management LP (“Gamut”) in connection with a strategic investment in International Automotive Components Group S.A. ("IAC"), a global automotive and mobility leader in lightweight and new-material interior solutions. On April 23, 2018, IAC closed its new financing transaction through the issuance of $215 million of Second Lien Notes due April 2023 to funds managed by Gamut. The proceeds, along with cash on hand, were used to redeem IAC’s $300 million 9.125 percent Senior Secured Notes due June 1, 2018. With this transaction Gamut also acquired a minority equity interest in the company. The financing strengthens IAC’s balance sheet and provides the financial flexibility to pursue IAC’s investment strategy to upgrade its asset base and undertake customer projects.