Electrical Components to launch $135 million term loan on Wednesday

By Sara Rosenberg

New York, Jan. 17 – Electrical Components International Inc. is scheduled to hold a lender call on Wednesday to launch a $135 million add-on term loan, according to a market source.

Bank of America Merrill Lynch is the lead arranger on the deal.

Proceeds will be used to fund the acquisition of Fargo Assembly Co., a Fargo, N.D.-based supplier of wire harnesses to the motorcycle, agriculture, construction and specialty transportation end-markets.

Closing is expected this quarter.

Pricing on the company’s existing term loan is Libor plus 475 basis points with a 1% Libor floor.

Electrical Components, a portfolio company of KPS Capital Partners LP, is a St. Louis-based manufacturer of wire harnesses and provider of value-added assembly services for the home appliance industry.

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