Alacrity Solutions Group sets Feb. 17 call to launch incremental term loan

Lead arranger Antares Capital has scheduled a lender call for 3 p.m. ET on Wednesday, Feb. 17, to launch an incremental first-lien term loan for Alacrity Solutions Group LLC (formerly known as Worley Claims Services), according to sources. Commitments will be due by 5 p.m. ET on Thursday, Feb. 25.

Price talk has not been released for the add-on, but proceeds from the deal will be used to fund a shareholder distribution.

The issuer was last in the loan market in May 2019 when it issued a $300 million first-lien term loan and a $30 million delayed-draw tranche to back the buyout of the company by Kohlberg & Co. The term loans are priced at L+400, with a 0% Libor floor. Financing for the buyout also included a $50 million, five-year revolver and a $120 million privately placed second-lien term loan.

Current corporate ratings are B/B3, with a stable outlook from both S&P Global Ratings and Moody's. The rated entity is KWOR Holdings.

Alacrity Solutions Group, based in Fishers, Ind., is a provider of insurance claims management services, such as field adjusting, managed repair and staffing solutions.