Safetykleen launches another LBO to red hot market
Safetykleen Europe, the surface treatment and chemical application services provider, has led a group of smaller new money deals to market this week. It held a bank meeting on Wednesday in London for its €455m seven year term loan ‘B’, backing Apax’s buyout from Warburg Pincus.
HSBC and BNP Paribas are global coordinators of the deal, with commitments due on July 7.
Apax announced the acquisition last month and is expected to close in the third quarter.
The deal joins a burst of buyout loans that have come to market in the
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