PNC Bank entered a $900 million senior secured credit agreement with Helios Technologies, a developer and manufacturer of solutions for the hydraulics and electronics markets.

The five-year agreement consists of a $400 million revolving credit facility, a $200 million term loan and amends Helios’ previous credit agreement. The agreement also includes a $300 million accordion feature.

Helios plans to use the proceeds of the credit agreement for repayment of its existing credit facilities, working capital purposes, general corporate purposes and to finance acquisitions such as the recently announced purchase of BWG Holdings.

“The establishment of these credit facilities not only represents a strong vote of confidence from the financial community, it importantly supports our short- and long-term growth objectives as we execute against our Vision 2025 strategy,” Josef Matosevic, president and CEO at Helios, said.

“We appreciate the participation of new and existing banks and believe this is a clear indication of their confidence in our business model, disciplined operating philosophy and growth opportunities,” Tricia Fulton, CFO at Helios, said. “The establishment of these credit facilities not only provides us with the funding to close on the Balboa acquisition, they also offer us liquidity to support our growth plans. We have very strong cash generation capabilities and a proven history of repaying outstanding debt in a disciplined and efficient manner, maintaining our financial strength.”