NV5 Global, a provider of professional and technical engineering and consulting solutions, closed a five-year, $140 million secured revolving credit facility with Bank of America.
Bank of America will serve as sole administrative agent for an $80 million senior secured revolving facility. Merrill Lynch is serving as sole lead arranger and sole book manager for the facility, which will include a $60 million accordion feature.
The senior credit facility will include a $5 million sublimit for the issuance of standby letters of credit and a $15 million sublimit for swingline loans, which expires five years after the date definitive documentation for the facility is entered into.
NV5 intends to use the funds to help execute its acquisition strategy, capital expenditures and corporate purposes. The company recently acquired JBA Consulting Engineers with mostly cash on hand but is lining up other opportunities before the end of 2016.