Howden plans new debt financing for buyout by KPS Capital Partners

By Sara Rosenberg

New York, May 17 – Howden has received a commitment for debt financing to help fund its acquisition by KPS Capital Partners LP from Colfax Corp., according to an 8-K filed with the Securities and Exchange Commission on Friday.

JPMorgan Chase Bank, Barclays, BNP Paribas Securities Corp., RBC Capital Markets and HSBC Securities (USA) Inc. provided the debt commitment.

Other funds for the transaction will come from equity.

Under the agreement, Howden is being bought for $1.8 billion, including $1.66 billion in cash consideration and $140 million in assumed liabilities and minority interest.

Closing is expected in the second half of 2019, subject to customary conditions and approvals.

Howden is a Glasgow, Scotland-based provider of mission critical air and gas handling products and services to the industrial, power, oil & gas and mining industries.

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