Lawson Products closes $100 million five-year credit agreement

By Sarah Lizee

Olympia, Wash., Oct. 15 – Lawson Products, Inc. entered into a new five-year credit agreement, increasing its maximum borrowing capacity to $100 million from $40 million, according to a press release.

The new agreement also includes an accordion feature that would provide additional borrowing capacity.

The agreement provides for increased capacity for future acquisitions, combines multiple existing credit facilities and lowers borrowing spreads and unused commitment fees.

JPMorgan Chase Bank NA is the bookrunner, lead arranger and agent. CIBC Bank USA and Bank of America, NA are also lenders.

The Chicago-based company sells and distributes specialty products to the industrial, commercial, institutional and government maintenance, repair and operations market.

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