CAB Worldwide LLC Announces Growth Investment

BUFORD, Ga., May 3, 2023 /PRNewswire/ -- CAB Worldwide LLC ("CAB" or the "Company"), a global engineering, manufacturing and supply chain management business that provides precision machined steel, iron and aluminum cast, forged and fabricated components and assemblies to original equipment manufacturers and distributors, is pleased to announce that it has successfully completed a growth recapitalization led by Heritage Growth Partners LLC ("Heritage Growth"), a private family investment office. The purpose of the recapitalization is to support CAB's growing operations, enable expansion of capabilities and fund future acquisitions. PNC Bank, N.A. provided a senior secured debt facility in connection with the transaction. Remaining terms of the transaction were not disclosed.

We are excited to enter this next phase of growth and work in partnership with Heritage Growth.

"We are excited to enter this next phase of growth and work in partnership with Heritage Growth." said Terri Jondahl, Chief Executive Officer of CAB. "In addition to patient capital, Heritage Growth brings strategic relationships and an operational mindset, which will help CAB realize its true potential. We look forward to accelerating our growth organically as well as expanding the business through selective acquisitions that bolster our capabilities and broaden our reach."