Northwest Pipe draws on credit facility for ParkUSA purchase

Chicago, Oct. 5 – Northwest Pipe Co. announced that it has acquired Park Environmental Equipment, LLC for $87.4 million, net of acquired cash.

The acquisition was funded through the company’s credit facility with Wells Fargo Capital Finance, which included a fully committed $25 million accordion feature, according to a press release.

Near-term repayment of outstanding debt will be a priority, Northwest Pipe said, and derived from cash flows of the combined business.

Northwest Pipe is a Vancouver, Wash.-based manufacturer of welded steel pipe.

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