SBP Holding completes refinancing
SBP Holding L.P. has completed a refinancing transaction co-led by Atlantic Park Strategic Capital Fund and The Carlyle Group’s Global Credit platform.
Financial details were not disclosed.
Carlyle acted as administrative agent. Concurrent with the closing of the transaction, the company also extended the maturity of its existing revolving credit facility to October 2025. Proceeds from the transaction will be used to fully refinance the company’s existing indebtedness and provide the company with capital to support future growth and acquisitions.
The company was formed in 2012 in conjunction with Singer Equities’ acquisition of Bishop Lifting Products. Since 2012, SBP has completed over 25 acquisitions and has transformed into a national platform.
“We’re extremely excited to partner with Atlantic Park and Carlyle during this next chapter of growth,” said Michael Geist, chief financial officer. “The facility supports our strong balance sheet and financial position. Importantly, the structure also provides additional flexibility and, with the further support of our majority owner AEA Investors, enables SBP to be well-positioned to continue executing our growth strategies as global economies recover.”
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