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Survey Co. Samples Buyout Mart

14 Apr 2005

Survey Sampling International is testing the loan market, taking out a $185 million facility from CIBC World Markets and Bank of New York.

Survey Sampling International is testing the loan market, taking out a $185 million facility from CIBC World Markets and Bank of New York. The company is being sold to Providence Equity Partners by Boston Ventures for $360 million. A bank meeting was held last Monday with an expected close date in mid-May. The facility will also refinance existing debt.

The Fairfield, Conn.-based company, that provides sample information for research surveys, generates about $34.7 million in EBITDA. The facility consists of a five-year, $15 million revolver; a six-year, $120 million first-lien; and a seven-year, $50 million second-lien. Pricing has not been finalized. The facility replaces a 2003 loan put into place by Bank of New York. Art Cardillo, cfo and v.p. finance and administration, did not return calls.

14 Apr 2005