Contech Engineered Solutions gets $225 million of credit facilities

By Sara Rosenberg

New York, Feb. 8 - Contech Engineered Solutions LLC closed on $225 million of new credit facilities, according to a news release.

The deal consists of a $125 million credit facility with Wells Fargo Bank as the administrative agent and a $100 million revolver.

The company entered into loans in connection with its buyout by Anchorage Capital Group LLC, Littlejohn & Co. LLC, Tennenbaum Capital Partners LLC and Farallon Capital Management LLC and the refinancing of existing debt.

"This is yet another significant milestone for our company, as we now have the capital structure to execute on our strategy of enhancing our product and service offerings and building our market leading positions across the globe," said Ron Keating, president and chief executive officer, in the release.

"Over the past two years, we have successfully removed over $600 million of debt and have created almost $100 million of liquidity under our new revolver," Keating added.

Contech Engineered Solutions, formerly Contech Construction Products Inc., is a West Chester, Ohio-based provider of engineering and site solutions for the residential, commercial and infrastructure markets.

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