We advised TruArc Partners on the acquisition and related financing arrangements

Davis Polk advised TruArc Partners, LP on its acquisition of Meyer Laboratory, LLC from its owners Russell Meyer and William “Rusty” Meyer. Financial terms of the acquisition were not disclosed. The financing arrangements included a $119 million term loan facility, a $40 million delayed-draw term loan facility and a $20 million revolving credit facility and an equity co-investment from the lenders.

Based in New York City, TruArc Partners is a private equity firm focused on middle-market control private equity investments. TruArc has executed over $3.1 billion in private equity investments since 2005.

Founded in 1978 and headquartered in Kansas City, Missouri, Meyer Laboratory is a manufacturer and distributor of industrial and institutional cleaning chemicals and applications systems.

The Davis Polk corporate team included partner Evan Rosen and associate Ryan Olson. Partner Robert F. Smith provided sponsor finance advice. Partner Kara L. Mungovan provided tax advice. Partner Travis Triano provided executive compensation advice. Partners Michael S. Hong and Sijia Cai provided investment management advice. Counsel Susan D. Kennedy provided real estate advice. Counsel David A. Zilberberg provided environmental advice. Partner David R. Bauer provided intellectual property advice. All members of the Davis Polk team are based in the New York office.