By a News Reporter-Staff News Editor at Defense & Aerospace Business -- Behrman Capital, a private equity investment firm based in New York and San Francisco, announced that it has completed a new $410 million refinancing for its portfolio company ILC Industries, LLC ("ILC").
The new credit facility is comprised of a $300 million first lien term loan, a $30 million revolving credit facility, and an $80 million second lien term loan. The first lien term loan and revolving credit facility were jointly led by Golub Capital and Ares Capital Corporation. The second lien term loan was jointly led by Brightwood Capital Advisors and Ares Capital Corporation. Proceeds from the new credit facility were used to refinance ILC's existing debt, achieving significant interest savings for the company.
ILC's principal subsidiary, Data Device Corporation (DDC), is the world leader in the design and manufacture of high-reliability data bus, motion control and solid-state power controller products for aerospace and defense vehicles as well as industrial applications.
Since 1964, DDC has continuously innovated in the development and production of state-of-the-art products with industry-leading Size, Weight, and Power (SWaP) benefits to customers.
Grant Behrman, Managing Partner of Behrman Capital, said, "DDC has established itself as a leader in the aerospace and defense sector with a wide range of mission-critical products. This new financing reflects the company's considerable success to date and further strengthens its ability to serve its customers and drive continued growth."
Keywords for this news article include: Aerospace, Behrman Capital.
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