Wheel Pros to launch $326 million first-lien term loan on Thursday

By Sara Rosenberg

New York, April 22 – Wheel Pros set a bank meeting for 10 a.m. ET on Thursday to launch its $326 million incremental first-lien term loan, according to a market source.

UBS Investment Bank, Antares Capital, Deutsche Bank Securities Inc. and ING are the leads on the deal.

The company is also getting a $90 million privately placed incremental second-lien term loan.

Proceeds will be used to fund a transformative acquisition.

Pro forma EBITDA will be about $130 million, first-lien leverage will be around 4.25 times and total leverage will be about 5.5 times.

Wheel Pros is a distributor of proprietary branded wheels and performance tires.

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