LBC Credit Partners Supports KPS Capital With Refinancing of A&E
LBC Credit Partners, a provider of financing solutions to middle-market companies, announced it is serving as administrative agent for a bifurcated lien term loan to American & Efird (A&E), a manufacturer of sewing thread, embroidery yarns and technical textiles for worldwide industrial markets. The facility was used primarily to repay debt incurred in connection with last October’s acquisition of A&E by KPS Capital Partners.
“We are excited to be working with a global leader like A&E and pleased to further our relationship with KPS Capital Partners,” said Jeffrey Blumin, managing director with LBC. “Entering 2012, we are poised to continue providing middle market companies and private equity groups with flexible, thoughtful and timely financial solutions.”
KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $2.7 billion of assets under management focused on constructive investing in restructurings, turnarounds and other special situations.