BNP Funds Hudson LBO

Hudson Products is in the market for a $120 million senior secured credit facility from BNP Paribas to finance Sterling Group's leveraged buyout from Madison Capital Partners, according to a banker.

  • 22 Nov 2006
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Hudson Products is in the market for a $120 million senior secured credit facility from BNP Paribas to finance Sterling Group's leveraged buyout from Madison Capital Partners, according to a banker. The seven-year deal consists of a $25 million revolver and a $95 million term loan "B." Both tranches are priced at LIBOR plus 3 3/4%, the banker said. The price of the transaction could not be determined.

Based in Sugar Land, Texas, Hudson is a designer and manufacturer of air-cooled heat exchanger equipment. Madison Capital bought Hudson from Babcock & Wilcox Investment in July 2002 for approximately $40 million. Christopher Yunkun, Hudson ceo, referred calls to Madison Capital where a representative did not return calls. Calls to a Sterling Group representative were also not returned.

  • 22 Nov 2006

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