Velocity One, a portfolio company of Charlesbank Capital Partners and an industry leader that designs, manufactures and supports a wide range of products for the aerospace and defense markets, closed on a new senior credit facility with SLR Credit Solutions comprised of a revolver and term loan. Proceeds of the new credit facility will be used to refinance existing debt and provide the company with the liquidity and flexibility it needs to pursue its organic and M&A growth initiatives.
“We are pleased to have SLR Credit Solutions as our new partner,” John Borduin, CEO of Velocity One, said. “This new facility represents a major step forward, enabling our business to deliver on our growth strategy.”
“We are excited to partner with Charlesbank and Velocity One, and look forward to supporting the company in its next stage of growth,” Josh Morgan, a Principal at SLR Capital Partners, said. “This financing reflects our support of the company’s platform and long-term trajectory.”
