SPX Flow plans new debt financing for buyout by Lone Star Funds

By Sara Rosenberg

New York, Dec. 15 – SPX Flow Inc. has received a commitment for debt financing to help fund its acquisition by Lone Star Funds, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Citigroup Global Markets Inc. provided the debt commitment.

Other funds for the transaction will come from equity.

Under the agreement, SPX is being bought for $86.50 per share. The buyout is valued at $3.8 billion, including the assumption of debt.

Closing is expected in the first half of 2022, subject to regulatory approvals, SPX shareholder approval and other customary conditions.

SPX is a Charlotte, N.C.-based provider of process solutions for the nutrition, health and industrial markets.

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