Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Easton-Bell Sports Inc. > News item |
Easton-Bell to get $415 million facility via Wachovia, Goldman
By Sara Rosenberg
New York, Feb. 7 - Easton-Bell Sports Inc. has received a commitment for a new $415 million senior credit facility, according to a news release.
Wachovia and Goldman Sachs are joint lead arrangers and joint bookrunners on the deal.
Proceeds from the facility will be used to help fund the merger of Riddell Bell Holdings with Easton Sports, forming the newly named branded sports company Easton-Bell, to refinance existing debt and for working capital and other general corporate requirements.
The merger is expected to close some time in the first quarter.
York Street Capital Partners, a US-based mezzanine debt fund principally sponsored by Teachers' Private Capital, will increase its existing equity investment in Riddell Bell as part of the transaction.
Riddell, a portfolio company of Fenway Partners and Teachers' Private Capital, is a Dallas-based designer, developer and marketer of head protection equipment and related accessories. Easton is a Van Nuys, Calif.-based developer, manufacturer, marketer and distributor of baseball, softball, hockey and cycling equipment.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.