Strategic Partners expected to launch $370 million facility next week

By Sara Rosenberg

New York, June 1 – Strategic Partners is planning on holding a bank meeting during the week of June 6 to launch a $370 million credit facility, according to a market source.

UBS Investment Bank, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. are the lead banks on the deal.

The facility is expected to consist of a $45 million revolver and a $325 million first-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by New Mountain Capital.

Strategic Partners is a Chatsworth, Calif.-based designer and manufacturer of medical apparel and footwear and school uniforms.

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