PNC Bank, National Association, announced the closing of a $42.38 million senior secured credit facility for Madison-Kipp Corporation (MKC), a portfolio company of Dallas, TX-based Trive Capital.

The transaction includes a $15.775 million equipment lease term loan. The proceeds of the transaction will be used to refinance existing debt, partially fund capital expenditures, and provide for ongoing working capital needs.

PNC Bank, N.A., served as administrative agent.

Established in 1898 and based in Madison, WI, MKC is a producer of lightweight, high-pressure aluminum die castings, precision machined components and system subassemblies for customers in the transportation, industrial, lawn and garden, and recreational product markets. MKC’s lean production systems are highly automated with robotic technology and integrated operations. The company manages the supply chain from raw metal blending to final product assembly, providing its customers with a single source integrated solution that minimizes supply chain complexity and risk.

“The nonferrous metal products industry is seeing increased demand from automotive and aerospace companies attempting to improve efficiency by utilizing aluminum to reduce the weight of cars and airplanes,” said Luke Tripodi, Senior Vice President and Business Development Officer, PNC Business Credit. “We are delighted to provide a financing solution designed to support MKC’s long-term growth strategy.”

“MKC has maintained strong, long-term relationships with a solid base of blue-chip customers, supporting them through multiple generations of platforms and parts,” said MKC President & CEO Tony Koblinksi. “We are proud to continue as sole-source supplier of the components we manufacture for more than 92 percent of our customers, and as sole-source provider to 100 percent of our automotive customers.”