Crystal Financial closed a $27.5 million senior credit facility for KPM Analytics Holdings. The facility consisted of a $21 million term loan, a $3 million revolving credit facility and a $3.5 million delayed draw term loan.
Established in 2015 by private equity firm Union Park Capital, KPM is a roll up of multiple operating entities, both domestic and international, which operate in the analytical instrument sector.
Proceeds from the transaction will be used to refinance existing debt facilities in multiple jurisdictions, finance working capital needs and provide additional debt capacity for future add-on acquisitions.
“KPM is a demonstrated leader in the manufacture of analytical instruments for a wide range of industrial applications. It made sense for us to partner with a demonstrated leader like Crystal for our financing. Their structure met the needs of both our domestic subsidiaries as well as our international operations. In addition, their ability to quickly respond makes them a great resource for the additional acquisitions we plan to pursue,” said Chris McIntire, KPM CEO.
Kenny Smith, managing director of Crystal Financial, added, “We were immediately impressed with the substantial expertise of the Company’s management team in addition to the thoughtful approach to the roll up strategy that Union Park has employed. We are excited to be their financing partner and look forward to supporting their growth via new acquisitions to the platform.”
“The team at Crystal delivered a comprehensive solution that met our current as well as future needs. They executed a highly complex transaction in a short time frame. They are true professionals and we look forward to working with them as our financing partner,” said Peter McGuire, partner at Union Park Capital.
Created in 2006, Crystal Financial is a portfolio company of Solar Capital. It provides direct private credit, with a focus on originating, underwriting and managing both asset-based and cash flow financings to middle-market companies.