Kaman US$940m take-private debt financing (Arcline)
Fund Arcline's take-private of Kaman
Key terms
- Borrower or issuer
- Kaman
- Date
- 18 Jan 2024
- Type
- Acquisition finance
- Amount
- US$940m
Recorded terms
- Structure
- Debt commitment letter for a US$790m term facility and US$150m revolving facility, alongside a US$1.23bn equity commitment from Arcline Capital Partners III
- Lenders and arrangers
- Morgan Stanley Senior Funding, Inc. (debt commitment letter)
- Country
- United States
Parties
- Kaman borrower or issuer
- Lenders: Morgan Stanley
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 5 Dec 2023 | Hensoldt acquisition financing for ESG | Acquisition finance | €675m |
| 15 Nov 2023 | TransDigm US$1.0bn 7.125% senior secured notes due 2031 for the CPI Electron Device acquisition | Acquisition finance | US$1bn |
| 27 Sep 2024 | Amentum US$1,000m 7.250% senior notes due 2032 | Acquisition finance | US$1bn |
| 27 Sep 2024 | Amentum US$4.6bn credit facilities for the Jacobs government services combination | Acquisition finance | US$4.6bn |
| 30 Oct 2024 | CACI International US$750m term loan B for the Azure Summit acquisition | Acquisition finance | US$750m |
M&A and investment involving Kaman
| Date | Deal | Type | Value |
|---|---|---|---|
| 19 Apr 2024 | Arcline acquisition of Kaman | M&A | US$1.8bn |
Sources
- Kaman definitive merger proxy statement (DEFM14A): financing sec.gov · 8 Mar 2024
- Kaman merger agreement (Exhibit 2.1): debt commitment letter sec.gov · 19 Jan 2024
About this record
Record DEF-2024-0027, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Acquisition debt is committed before signing, often as a bridge, and refinanced with bonds or term loans once the deal closes.
