$635 million Whitcraft and Paradigm Precision acquisition financing
We advised the administrative agent and lenders on the financing provided to a joint venture
Davis Polk advised the administrative agent and lenders in connection with a $635 million debt financing provided to a joint venture affiliate of Clayton Dubilier & Rice and Greenbriar Equity Group. The financing consists of a $560 million senior secured term loan facility and a $75 million revolving facility, which were used in part to finance the cash consideration for the acquisition and combination of the Whitcraft Group and Paradigm Precision.
The Whitcraft Group is a leading U.S. manufacturer of highly engineered precision formed, precision machined and fabricated parts on the aerospace industry’s leading aircraft and engine platforms. Paradigm Precision is a premier global independent provider of complex machining, fabrications and assemblies primarily for gas turbine engines.
Clayton Dubilier & Rice is a leading global private equity firm. Greenbriar Equity Group is a middle-market private equity firm with more than 20 years of experience investing in market-leading supply chain, business services and advanced manufacturing businesses.
The Davis Polk finance team included partner Nicholas A. Palumbo, counsel Zachary R. Frimet and Ruben N. Henriquez and associate Pablo Solorzano. Partner Ethan R. Goldman and associate Dov Sussman provided tax advice. All members of the Davis Polk team are based in the New York office.