Quikrete to launch $1.62 billion credit facility on Sept. 10

By Sara Rosenberg

New York, Aug. 23 - Quikrete is scheduled to hold a bank meeting on Sept. 10 to launch a $1.62 billion credit facility, according to a market source.

Wells Fargo Securities LLC is the lead bank on the deal.

The facility consists of a $200 million ABL revolver, a $1.23 billion first-lien term loan B and a $190 million second-lien term loan, the source said.

Proceeds will be used to fund the acquisition of Custom Building Products Inc. from Kelso & Co.

Quikrete is an Atlanta-based manufacturer of packaged concrete and related products for the building and home improvement markets. Custom Building Products is a Seal Beach, Calif.-based producer of mortar, sealant, grout, backerboard, tools and associated products for the installation and care of ceramic tile and stone.

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