Directed Electronics plans credit facility add-on for Polk Audio purchase

By Sara Rosenberg

New York, Aug. 21 - Directed Electronics Inc. plans on getting an add-on to its senior secured credit facility to fund its about $136 million cash acquisition of Polk Audio, according to a company news release.

CIBC World Markets and J.P. Morgan Securities are the lead banks on the deal.

The transaction is expected to close in the third quarter.

Directed Electronics is a Vista, Calif.-based designer and marketer of consumer branded vehicle security and convenience systems. Polk Audio is a Baltimore-based provider of high performance home and mobile audio equipment.

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