We advised the lead arrangers and agents on the loan facilities

Davis Polk advised the joint lead arrangers, joint bookrunners and agents in connection with a $2.8 billion credit facility provided to the acquirers of MacLean Power Systems. The facility consists of a $2.01 billion term loan, a $150 million revolving credit facility, a $560 million junior secured second-lien credit facility and a $100 million ABL facility. The facilities are being used to fund the acquisition by Blackstone of MacLean Power Systems.

MacLean Power Systems is a manufacturer specializing in products for the electric utility, telecommunications and civil construction market. Based in Fort Mill, South Carolina, MacLean has over 1,600 employees and multiple manufacturing facilities across North America.

Blackstone is one of the world’s leading investment firms. Blackstone’s $1.2 trillion in assets under management includes investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment-grade credit, real assets and secondary funds, all on a global basis.

The Davis Polk finance team included partners Jason Kyrwood, Sanders Witkow, Zachary R. Frimet and David Hahn, counsel Ping Chi Bobby Yeh and associates David Waldman, Duan Xu, Benjamin Glass, Patrick B. Fontana and Gabrielle McLymont. All members of the Davis Polk team are based in the New York office.

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