Total Safety to launch $480 million credit facilities on Thursday

By Sara Rosenberg

New York, July 15 – Total Safety is scheduled to hold a bank meeting at 10 a.m. ET in New York on Thursday to launch $480 million of credit facilities, according to a market source.

Goldman Sachs Bank USA, Citizens Bank and Credit Suisse Securities (USA) LLC are the leads on the deal.

The facilities consist of a $75 million ABL revolver, a $330 million first-lien term loan and a $75 million delayed-draw first-lien term loan, the source said.

Proceeds will be used to fund the acquisition of Sprint Safety, to refinance existing debt at Total Safety and to pay transaction-related fees and expenses.

Littlejohn is the sponsor.

Total Safety is a Houston-based provider of outsourced safety and compliance solutions to clients operating in hazardous environments in the refining and petrochemical end-markets. Sprint Safety is a provider of safety equipment rentals, breathable air solutions, training and turnaround management to the energy, industrial and environmental sectors.

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