Focus Financial to launch $300 million add-on term loan B on Thursday

By Sara Rosenberg

New York, July 17 – Focus Financial Partners Inc. is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch a $300 million add-on term loan B, according to a market source.

RBC Capital Markets is the left lead on the deal.

Proceeds will be used to repay revolving credit facility borrowings.

Closing is expected this month.

“We are taking advantage of the positive credit environment to increase the borrowing capacity under our revolver as we continue to prudently manage our credit and leverage profile,” said Jim Shanahan, chief financial officer, in a news release.

“We see significant opportunities that will drive our 2019 growth in excess of our 20% annual targets for revenue and adjusted net income per share, demonstrating the power of our business model. Our pipeline remains robust, particularly as an increasing number of our partner firms seek to accelerate their growth through merger opportunities. This transaction will increase our flexibility to capitalize on the secular tailwinds shaping the RIA industry and position our business for future growth,” Shanahan added in the release.

Focus Financial is a New York-based partnership of independent, fiduciary wealth management firms.

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