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LBC Credit Partners Agents $83MM Facility in C&K Component’s Recap

January 14, 2015, 07:27 AM
Filed Under: Manufacturing

LBC Credit Partners ("LBC"), a leading provider of financing solutions to middle-market companies, agented senior secured credit facilities totaling $83.0 million to support the recapitalization of C&K Components, Inc., a portfolio company of Littlejohn & Co.  Proceeds of the facilities will also be used to refinance existing indebtedness and provide a dividend to the shareholders.

LBC Credit Partners served as administrative agent and sole lead arranger for the transaction.

Headquartered in Massachusetts, C&K Components is a leading global manufacturer of electronic switch and interface technology that provides one of the broadest lines of quality switches, as well as smart card and high reliability connector products. They sell into the automotive, industrial, telecom, aerospace, and consumer electronics markets and have locations in Hong Kong, France, Germany and Korea.

Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach.  The firm is currently investing from Littlejohn Fund V, L.P., which has $2 billion in capital commitments. 

LBC Credit Partners is a leading provider of middle-market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $1.75 billion of capital commitments, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has additional offices in Chicago and Greenwich.

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