From start to finish, the execution and client service was excellent, and they identified multiple financing alternatives for the Company. We are looking forward to our continued relationship with the Configure team and greatly appreciate all of their hard work.
Configure Partners Advises Stellex Capital Management on its Recapitalization of Fenix Parts
Atlanta, GA — Configure Partners, LLC (“Configure”), a leading middle market investment bank, is pleased to announce its role as financial advisor and investment banker to Fenix Parent LLC, operating as Fenix Parts (“Fenix” or the “Company), a portfolio company of Stellex Capital Management (“Stellex” or the “Sponsor”), in executing a debt recapitalization transaction to support the Company’s growth objectives. Fenix is a leading recycler and reseller of original equipment manufacturer automotive parts with locations across the eastern and southern United States. Configure led execution of the financing process, including credit positioning, lender outreach, and credit agreement negotiation alongside Greenberg Traurig as legal counsel on the financing.
“Configure drove a great outcome for Fenix. We believe this successful debt recapitalization will further support the Company’s aggressive growth plans. From start to finish, the execution and client service was excellent, and they identified multiple financing alternatives for the Company. We are looking forward to our continued relationship with the Configure team and greatly appreciate all of their hard work,” said Michael Livanos, Managing Director at Stellex.
Chris Peracchi, Fenix’s CFO, added “We are excited about the outcome of the debt recapitalization that Configure executed which streamlined Fenix’s debt structure and increased liquidity for potential acquisitions and working capital. Fenix’s new debt provider is eager to support our strategic development plans. We sincerely appreciate the effort and client service of the entire Configure team.”
Joseph Weissglass, a Managing Director at Configure, commented, “We believe Fenix’s management team and Stellex have built an exceptional platform supported by industry veterans with a focus on operational excellence. We know Stellex and the Company have big plans, and we are thrilled to have played our part in supporting that growth.”
About Fenix Parts (www.fenixparts.com)
Fenix Parts, Inc. is a leading recycler and reseller of OEM automotive products. The company’s primary business is auto recycling, which is the recovery and resale of OEM parts, components, and systems reclaimed from damaged, totaled or low value vehicles. Fenix was founded in 2014 to create a network that offers sales, fulfillment, and distribution in key regional markets in the United States. Fenix currently operates locations in the Northeast, Southeast, and Southwest and the Fenix companies have been in business for more than 25 years on average.
About Stellex Capital Management LLC (www.stellexcapital.com)
With offices in New York, Detroit and London, Stellex Capital is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, automotive, and government services.
About Configure Partners (www.configurepartners.com)
Configure Partners is a preeminent credit-oriented middle market advisory boutique headquartered in Atlanta. The firm provides investment banking and financial advisory services surrounding credit and creditor’s rights, providing actionable advice and results-oriented execution. Configure’s Debt Placement practice designs bespoke financing solutions for borrowers to support leveraged buyouts, acquisitions, and dividend recaps, among other strategic objectives. The firm’s Credit Resolutions practice is the trusted advisor to lenders and their borrowers when confronting business, liquidity, or capital structure challenges.