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Golub Capital Provides Debt Facility in Behrman Capital’s Recapitalization of DDC

July 21, 2015, 07:28 AM
Filed Under: Manufacturing

Golub Capital announced that as administrative agent, sole lead arranger and sole bookrunner, it provided a $515 million GOLD financing to support the recapitalization of Data Device Corporation, a portfolio company of Behrman Capital. GOLD financings are Golub Capital's One-Loan Debt facilities. The GOLD financing represents the syndication of one of largest one-stop facilities to date.

DDC is a leading manufacturer of highly reliable, highly engineered electronic and components for the military and aerospace and defense end-markets, with components for nearly every aircraft, ground vehicle, and weapons systems in the U.S. military.

This is the second transaction Golub Capital has financed for Behrman Capital and DDC in the past 12 months, as well as Golub Capital's largest one-stop loan to date. In July of 2014, Golub Capital provided a $330 million senior credit facility to support Behrman Capital's refinancing of the Company.

"DDC is the leader in high-reliability data bus, motion and control and power controller products to the aerospace and defense and industrial markets, and the Company's recent acquisition of Emrise Electronics Ltd. will further expand their power solutions capabilities to its global customer base," said Andrew Steuerman, Senior Managing Director and Head of Middle Market Lending at Golub Capital. "We are thrilled to partner with Behrman and DDC again as they continue to execute on the Company's growth strategy. We look forward to building upon our strong relationship."

Grant Behrman, Managing Partner of Behrman Capital, said "Golub Capital once again delivered a financing solution that offered flexibility, certainty, and efficiency to support DDC in achieving its growth goals.  Golub Capital will continue to be a strong partner to DDC and Behrman in the years ahead."

Golub Capital's award winning middle market lending team structures financing solutions with hold positions of up to $300 million. The team also underwrites and syndicates senior credit facilities and a proprietary suite of GOLD (one-loan debt) facilities, up to $500 million. Golub Capital has been a top 3 US Middle Market Bookrunner each year from 2008 through Q1 2015 for senior secured loans of up to $500 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals).

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