ABB Concise increases term loan B amount to $275 million

By Sara Rosenberg

New York, Jan. 30 - ABB Concise Inc. upsized its term loan B to $275 million from $260 million, according to a market source.

The company's now $345 million credit facility (B2/B), up from $330 million, still includes a $70 million revolver.

Bank of America Merrill Lynch, RBC Capital Markets and GE Capital Markets are leading the deal.

Proceeds will be used to fund the acquisition of Optical Distributor Group and refinance an existing credit facility.

ABB Concise is a Coral Springs, Fla.-based optical distributor, operating as an independent source of marketing and logistics services for eye care professionals, retailers and manufacturers. Optical Distributor Group is a Hawthorne, N.Y.-based distributor of optical products.

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