American Industrial Partners

Overview

Deal Type Debt Capital Markets
Size $855 Million
Senior Secured Credit Facilities
Client & Transactional Partners American Industrial Partners
RelaDyne, Inc.
Our Role Joint Lead Arranger
Joint Bookrunner

Summary

On February 2, 2022, KeyBanc Capital Markets (“KBCM”) successfully closed on the syndication of $855 million of Senior Secured Credit Facilities (the “Facilities”) in support of American Industrial Partners’ (“AIP” or the “Sponsor”) acquisition of RelaDyne, Inc. (“RelaDyne”). The Facilities consist of a $150 million ABL Revolving Credit Facility, a $540 million First Lien Term Loan, and a $165 million Second Lien Term Loan. Proceeds from the Facilities will be used to fund the acquisition of RelaDyne, support working capital needs and general corporate purposes, and pay transaction related fees and expenses. KBCM acted as Joint Lead Arranger & Joint Bookrunner on the transaction.

AIP is a New York-based private equity firm with a history of making middle-market investments in the industrial sector in the U.S. and Canada. AIP has completed over 100 platform and add-on acquisitions and invests in corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with revenues over $300 million. The Sponsor is currently investing out of its Fund VII, which has $3.2 Billion in committed capital.

RelaDyne, headquartered in Cincinnati, Ohio, is one of the nation’s leading providers of lubricants, fuels, diesel exhaust fluid (DEF), and reliability services for industrial, commercial, and automotive businesses in the United States. RelaDyne was formed in 2010 by the combination of four well- established industry-leading companies and has since grown to more than 60 locations by strategically acquiring other industry leaders in the lubricant, fuel distribution, and industrial service segments.

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