Dometic Group plans news bank facilities for purchase of SeaStar

By Sara Rosenberg

New York, Nov. 22 – Dometic Group has received a commitment for bank facilities to help fund its acquisition of SeaStar Solutions, company officials said in a conference call on Wednesday.

Other funds for the transaction will come from cash.

Under the agreement, SeaStar is being bought from American Securities LLC for $875 million.

Net debt to EBITDA at closing will be 3.3 times but is expected to be within 2 times in 24 months.

Closing is expected this quarter, subject to customary conditions and regulatory approvals.

Dometic is a Solna, Sweden-based provider of products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. SeaStar is a Litchfield, Ill.-based provider of vessel control, fuel systems and system integration to the marine industry.

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