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Franklin Energy gets new credit facility for buyout by Kohlberg
By Sara Rosenberg
New York, Nov. 4 – Franklin Energy closed on a new senior secured credit facility to help fund its acquisition by Kohlberg & Co. LLC, according to a market source.
Antares Capital, BMO Capital Markets and KeyBanc Capital Markets were the joint lead arrangers and bookrunners on the deal. Carlyle GMS was a lender.
The credit facility funded on Oct. 31, the source added.
Franklin Energy is a Port Washington, Wis.-based designer and implementer of utility energy-efficiency programs for municipal clients in the United States and Canada.
With this transaction, Franklin Energy will be merged with AM Conservation Group, a Charleston, S.C.-based provider of energy and water conservation products that is already owned by Kohlberg.
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