SBP Holding nets unitranche loans, extends RC maturity

SBP Holding LP received senior secured unitranche credit facilities to refinance debt and fund growth, market sources said today.

The Carlyle Group was administrative agent. Atlantic Park Strategic Capital Fund LP and Carlyle’s Global Credit platform co-led the transaction.

No further details about the loans were available. Concurrent with the transaction, SBP Holding extended the maturity on a revolving credit facility to October 2025.

SBP is a portfolio company of AEA Investors. It was formed via Singer Equities’ acquisition of Bishop Lifting Products in 2012. Since the company’s formation, SBP Holding has closed more than 25 acquisitions and expanded into a national industrial distribution platform. The proceeds from the new loans may fund more acquisitions, the companies said.

In 2014, SBP Holding placed a $225 million, covenant-lite seven-year first-lien (L+400, 1% floor) term loan and a $127.5 million, eight-year second-lien (L+800, 1% floor) term loan and a $100 million five-year asset-based lending facility. Proceeds funded an acquisition. UBS and Jefferies were arrangers.

SBP Holding offers highly engineered products and services to a range of customers and end markets.