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Tikehau Capital finances acquisition of C&K Holdings by Sun Capital through a USD130m unitranche

Tikehau Capital has arranged a USD130 million dual currency unitranche facility to support Sun Capital Partners’ acquisition of C&K Holdings, a manufacturer of electromechanical switches.

C&K was founded in 1928 and has one of the industry’s broadest product portfolios, offering more than 55,000 standard products and 8.5 million switch combinations to companies that design, manufacture and distribute electronics products. In addition, C&K’s unmatched custom design capabilities are recognised globally by engineers who demand reliable switch performance.

C&K is headquartered in Newton, Massachusetts, with more than 1,500 employees working at its global design centre in Newton; Dole, France; and Huizhou, China. C&K delivers reliable, cost-effective and high-quality electromechanical switches to more than 20,000 customers in the industrial, automotive, aerospace, medical, consumer products, transportation and telecom industries.

Sun Capital was able to secure an exclusivity by submitting a fully financed binding offer ahead of the set deadline, and ultimately acquired C&K from Littlejohn & Co (US mid-market focused sponsor).

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