Brooks Automation to launch $1.03 billion of term loans on Monday

By Sara Rosenberg

New York, Nov. 4 – Brooks Automation Inc. (Altar BidCo Inc.) is set to hold a lender call at 1 p.m. ET on Monday to launch $1.03 billion of term loans, according to a market source.

The debt consists of an $825 million seven-year first-lien term loan and a $205 million eight-year second-lien term loan, the source said.

Barclays, Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., UBS Investment Bank, MUFG, SMBC and Stifel are the joint bookrunners on the deal, with Barclays the left lead and administrative agent on the first-lien term loan, and Goldman the left lead and agent on the second-lien term loan.

The first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Proceeds will be used with about $2 billion of equity to fund the buyout of the company by Thomas H. Lee Partners LP in a transaction valued at $3 billion.

Closing is expected in the first half of 2022 upon satisfaction of customary conditions and regulatory approvals.

Brooks Automation is a Chelmsford, Mass.-based automation technology company with significant expertise in semiconductors.

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