Starboard Merger Company, LLC (d/b/a AHF Products)

Overview

Deal Type Debt Capital Markets
Size $265 Million
Senior Secured Credit Facilities
Client & Transactional Partners Paceline Equity Partners
AHF Products
Our Role Joint Bookrunner
Joint Lead Arranger

Summary

On February 1, 2022, KeyBanc Capital Markets (KBCM) successfully closed the syndication of a $215 million First Lien Term Loan (Term Loan) in support of Paceline Equity Partners' (Paceline) acquisition of AHF Products (AHF). Additionally, KeyBank committed to a $50 million Asset-Based Revolving Credit Facility (ABL). Proceeds from the Credit Facilities (ABL and Term Loan) were used to support the acquisition of AHF, support ongoing working capital needs, and pay transaction related fees and expenses. KBCM served as Joint Lead Arranger and Joint Bookrunner on the Term Loan.

Headquartered in Mountville, PA, AHF is a leading producer of hard surface flooring in North America with leading category positions, entrenched customer and channel relationships. AHF has a comprehensive portfolio of brands and products across solid wood flooring, engineered flooring, and hard surface flooring.

Paceline was founded in late 2018 by former Lone Star Funds executives. Located in Dallas, Texas, Paceline was formed to pursue value-oriented, opportunistic, and special situations investments across private equity, corporate debt and real estate.

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