Daily News: January 16, 2014

PNC Provides $50MM Financing for HKW Acquisition

PNC Bank announced the closing of $50 million in senior secured financing for a portfolio company of Hammond, Kennedy, Whitney & Company (HKW), a private equity firm headquartered in Indianapolis, IN.

The funds were used to acquire and consolidate Texas-based TC Safety and EnerSafe. Both companies provide safety services and products to large oil and gas producers.

Steel City Capital Funding, a division of PNC, provided a portion of the financing.