CVC Credit Partners has acted as Administrative Agent on a first lien senior secured credit facility provided to Industrial Physics.
The company used the proceeds at close to finance an acquisition and refinance existing debt, whilst the credit facility can also be utilised to finance the company’s growth through future acquisitions in the US and Europe.
Formed in 2014 by Union Park Capital, Industrial Physics designs, manufactures, and distributes test and measurement instruments for quality assurance of packaging materials. These instruments are critical to maintaining customer quality control procedures and are used throughout the value chain. The Company has offices in the US, China, Netherlands, UK, Germany, Mexico, and Indonesia.
Jim Neville, President & CEO of Industrial Physics, says: “We are excited to have CVC as our new partner. Throughout the process, their team has been thoughtful and responsive, and they align very well with our business strategy. Also, their ability to provide a seamless cross-border, multi-currency solution was a real differentiator for us.”
David Rous, Managing Director in CVC Credit Partners’ US Private Debt business, says: “Industrial Physics has built a great platform with strong market positions across its 9 portfolio companies. We look forward to supporting Union Park and the Industrial Physics team through the company’s next stage of growth.”
Neale Broadhead, Managing Director in CVC Credit Partners’ European Private Debt business, adds: “We are thrilled to partner with Union Park and the Industrial Physics team, and look forward to helping them grow the company’s global footprint through value-adding acquisitions.”
