Citizens served as Sole Lead Arranger for Addison, Ill.-based Parts Town’s upsized $150 million asset-based revolving credit facility.
 
Founded in 1987, Parts Town is a technology-enabled distributor of genuine original equipment manufacturer parts for the food service industry, both in the U.S. and internationally.
 
The financing also included a $1.52 billion unitranche debt facility from Golub Capital.
 
Proceeds from the transaction will be used to refinance existing debt, support a minority equity investment from Leonard Green & Partners L.P., fund a tuck-in acquisition, and provide working capital liquidity going forward.
 
On November 3, Parts Town announced Leonard Green had made a significant investment in the company. Going forward, current investor Berkshire Partners will retain its majority stake in the company, reinvesting alongside the Parts Town management team and Leonard Green.