Rexair to get new credit facility via CSFB for acquisition by Rhone Capital

By Sara Rosenberg

New York, May 9 - Rexair Inc. will be getting a new credit facility to fund its acquisition by Rhone Capital LLC from Jacuzzi Brands Inc. for about $170 million, according to a news release.

Credit Suisse First Boston will arrange the financing.

Following completion of the acquisition, Jacuzzi will retain a 30% interest in Rexair.

The acquisition, which is subject to financing, antitrust approval and other customary closing conditions, is expected to close by July 2.

Rexair is a Troy, Mich.-based manufacturer of the Rainbow vacuum cleaner system for the global direct sales market.

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