FloWorks to launch $330 million credit facilities on Tuesday

By Sara Rosenberg

New York, Jan. 31 – FloWorks International is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch $330 million of credit facilities, according to a market source.

RBC Capital Markets LLC, UBS Investment Bank, Jefferies LLC, Wells Fargo Securities LLC, BNP Paribas Securities Corp. and Audax are the arrangers on the deal.

The facilities consist of a $60 million ABL revolver and a $270 million term loan B, the source said.

Proceeds will be used to support the acquisition of SemiTorr Group that was completed on Dec. 27 and to refinance existing debt.

FloWorks is a specialty flow control distribution platform backed by Clearlake Capital Group LP. SemiTorr is a Tualatin, Ore.-based specialty fluid handling systems and components distributor.

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