DRC Announces HPTi Acquisition Financing: Ares Capital to Buy Debt, BofA to Lead Credit Facility

Securities broker dealer B. Riley & Co., LLC has arranged for Ares Capital Corporation to buy $20 million of Dynamics Research Corporation subordinated debt to support ‘s DRC’s $143 million cash acquisition of High Performance Technologies, Inc. The debt has a six-year term.

LinkedIn Join Us

Bank of America will also lead a $130 million senior credit facility for DRC which includes a five-year loan for $110 million and $20 million of revolving credit.

Dave Keleher, DRC’s SVP and CFO, said, “B. Riley is an important partner to Dynamics Research Corporation, and their investment banking team moved swiftly in arranging our subordinated debt financing for this transaction. B. Riley’s knowledge of the financing markets, and the firm’s relationships with leading debt and equity providers, were critical in getting us across the finish line.”

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Financial Report

Related Articles