Kinetek Industries private placement priced April 12, via Jefferies

By Paul A. Harris

St. Louis, Mo., April 16--Kinetek Industries (formerly Motors & Gears, Inc.) priced a private placement of $15 million 5% senior secured notes due May 2007 and $11 million 10% senior secured notes due May 2007 (B2/B+) on April 12, according to Kinetek chief financial officer Daniel Drury.

Jefferies & Co. was the dealrunner, Drury added.

The Deerfield, Ill.-based company makes specialized equipment for the automotive industry.

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