Sentinel Capital Partners tapped Scotia Capital to provide financing for its leveraged buyout of Strategic Partners. The loans, which hit the market last Wednesday, consist of a five-year, $20 million revolver; a six-year, $97 million term loan "B" and $40 million of mezzanine debt. Price talk on the revolver and term loan "B" was LIBOR plus 3%.
Headquartered in Pacoima, Calif., Strategic Partners designs, manufactures, markets and sells uniforms and footwear for the healthcare community. It was formed from assets of the uniform division of Cherokee in 1995. Eric Bommer, a partner at Sentinel, could not be reached.