QualTek Services, an infrastructure services provider, announced a restructuring transaction that will reduce the company’s debt by approximately $307 million and provides $40 million of additional liquidity.
TEAM, a provider of specialty industrial services, secured committed financing from Corre Management Partners and Eclipse Business Capital, with Corre providing a $57.5 million senior secured first lien term loan and Eclipse providing a $27.4 million term loan.
Fortress Investment Group and Mubadala Investment Company, through its wholly-owned asset management subsidiary, Mubadala Capital, entered into definitive agreements to acquire 90.01% of the equity of Fortress that is currently held by SoftBank Group, who have been the owners of Fortress since 2017.
SageSure, an independent managing general underwriter focused on providing catastrophe-exposed property insurance, closed a $250 million equity investment led by Amwins and Flexpoint Ford, with participation from Ares Management.
Venator Materials, a global manufacturer and marketer of chemical products, reached an agreement with the overwhelming majority of its lenders and noteholders on the terms of a comprehensive recapitalization plan.
Envision Healthcare filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Envision also entered into a restructuring support agreement with its key stakeholders supported by more than 60% of the company’s approximately $7.7 billion in debt obligations.
Bed Bath & Beyond filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey. Sixth Street Specialty Lending is providing $240 million in debtor-in-possession financing to facilitate the process.
David’s Bridal and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey.
J.Jill completed the refinancing of its previously outstanding priming term loan and subordinated term loan facilities using the proceeds from the new term loan and cash on hand.
QualTek Services closed a money incremental term loan providing $55 million in immediately available funds under its existing term loan credit agreement. The company appointed Cari Turner of Alvarez & Marsal as chief restructuring officer to support QualTek’s management team and the board of directors.