Spectra emerges from financial restructuring

Spectra Premium Industries, an aftermarket parts supplier supporting sustainable mobility, says it has reached a deal with Turnspire Capital Partners to emerge from financial restructuring.

The company says it will emerge from financial restructuring under the Companies’ Creditors Arrangement Act in the fourth quarter.

(Photo: Spectra Premium)

“The agreement with Turnspire brings new capital investment, a clean balance sheet and financial stability, strengthening our ability to compete as an advanced and robust automotive and heavy-duty parts manufacturer,” said Denis Chabot, President and CEO – Spectra Premium Industries.

“Combining our key operating competencies with Turnspire’s industry experience and focus on operational excellence will allow Spectra to better serve OEM and aftermarket customers with high quality products, most of which are manufactured here in North America.”