Motorcar Parts of America loans $1.9 million to Fenwick with option to acquire part of company

Motorcar Parts of America loans $1.9M to Fenwick

LOS ANGELES — Motorcar Parts of America said Monday that it has loaned $1.9 million to Fenwick Automotive Products, Ltd. an investment that could lead to it taking a major stake in Fenwick.

The investment is structured as a secured loan with an option to obtain “substantial” ownership in the company, according to Motorcar Parts of America.

Motorcar Parts of America remanufactures alternators and starters. Fenwick, based in Toronto, makes new and remanufactured aftermarket auto parts.

Shares of Motorcar Parts of America rose 28 cents, or 4 percent, to $7.14.