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Knowlton Development to launch $300 million term loan on Wednesday
By Sara Rosenberg
New York, Jan. 10 – Knowlton Development Corp. (KDC/ONE) set a bank meeting for Wednesday to launch its proposed fungible $300 million add-on first-lien term loan, according to a market source.
UBS Investment Bank and Jefferies LLC are the leads on the deal.
Proceeds will be used to help fund the acquisition of HCT Group.
Other funds for the transaction will come from new equity from Knowlton Development’s sponsor, Cornell Capital, as well as reinvestment equity from the founder and existing management of HCT.
Closing is expected early this quarter, subject to customary conditions.
Knowlton Development is a Longueuil, Quebec-based manufacturer and custom formulator of color cosmetics, skincare, haircare, bath & body, fragrance, deodorant, home, health, industrial and auto care products. HCT is a Santa Monica, Calif.-based designer, engineer and manufacturer of packaging solutions for global beauty brands.
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