W Industries
Detroit Investment Fund - closed October 2009
W Industries is a full-service, design, engineering and program management company specializing in metal fabrication for the aerospace, defense, automotive, and industrial sectors. Manufacturing processes include laser, plasma cutting, forming, welding, metal finishing and painting. W Industries supports notable aerospace and defense customers and operates out of three industrial facilities encompassing over 500,000 square feet in aggregate. The company employs over 360 people in Detroit.
Based on a thorough review, the Detroit Investment Fund (DIF) provided a term loan to W Industries to assist the company with capital improvements including the purchase of new equipment for additional, unique production capacity, and the restructuring of existing debt. DIF management worked directly with the principals of W Industries and completed the Fund’s loan in concert with Chase Bank.
W Industries has shown that it has successfully diversified out of the domestic automobile industry and is poised for growth in the aerospace and defense sectors. This financing opportunity is consistent with Invest Detroit’s Business & Equipment portfolio strategy.