Metrologic plans $200 million credit facility to help back LBO

By Sara Rosenberg

New York, Sept. 13 - Metrologic Instruments Inc. is planning to get a new $200 million credit facility to help back its leveraged buyout by a group of investors, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Morgan Stanley is the lead bank on the deal.

Under the LBO agreement, the investor group led by Francisco Partners, C. Harry Knowles, founder and chief executive officer of Metrologic, and Elliott Associates, LP will pay $18.50 in cash for each share of Metrologic common stock.

Equity financing for the buyout is in the amount of $153 million, the filing added.

The transaction is expected to be completed in the fourth quarter, subject to receipt of shareholder approval and regulatory approvals, as well as satisfaction of other customary closing conditions.

Metrologic is a Blackwood, N.J., supplier of choice for data capture and collection hardware, optical products and image processing software.

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