Key Takeaways
- • Blackstone led a $300 million debt package backing Arlington Capital Partners' take-private of Gooch & Housego Plc, according to people familiar with the matter, per Bloomberg.
- • Arlington initially funded the acquisition with equity before adding the debt financing.
- • The financing consists of a unitranche loan, a delayed draw term loan and a revolving credit facility, with Blackstone providing the majority of the package.
- • JPMorgan Chase & Co. and Jefferies Financial Group Inc. also participated in the financing.
- • Gooch & Housego is a manufacturer of aerospace and defense components.
Summary
Blackstone Inc. led a $300 million debt package supporting US buyout firm Arlington Capital Partners' take-private of Gooch & Housego Plc, according to people familiar with the matter, as reported by Bloomberg. The transaction would remove the UK-listed manufacturer of aerospace and defense components from public markets.
Arlington first funded the acquisition with equity and subsequently added debt financing, the people said. Blackstone provided the majority of the debt package, which is structured as a unitranche loan, a delayed draw term loan and a revolving credit facility. JPMorgan Chase & Co. and Jefferies Financial Group Inc. also participated in the financing.
The deal illustrates continued demand from large private credit and private equity sponsors for financing of take-private transactions in the aerospace and defense supply chain. Details on the purchase price and the full terms of the financing were not disclosed in the source material.
Arlington first funded the acquisition with equity and subsequently added debt financing, the people said. Blackstone provided the majority of the debt package, which is structured as a unitranche loan, a delayed draw term loan and a revolving credit facility. JPMorgan Chase & Co. and Jefferies Financial Group Inc. also participated in the financing.
The deal illustrates continued demand from large private credit and private equity sponsors for financing of take-private transactions in the aerospace and defense supply chain. Details on the purchase price and the full terms of the financing were not disclosed in the source material.
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