K-Bro Linen closes C$175 million three-year replacement revolver

By Wendy Van Sickle

Columbus, Ohio, March 26 – K-Bro Linen Inc. entered into a three-year, C$175 million committed, syndicated revolving credit facility that matures on March 26, 2027, the company reported in a news release.

There is a C$15 million subfacility for swingline loans and a C$75 million accordion.

Toronto-Dominion Bank is the lead arranger, bookrunner and administrative agent.

The credit agreement replaces the company’s existing C$125 million credit agreement with Toronto-Dominion.

"Strategic acquisitions of high-quality operators continue to be an important contributor to K-Bro's overall growth profile. We have an active M&A pipeline and remain well positioned from a balance sheet and liquidity perspective and will continue to be disciplined as we evaluate acquisitions,” K-Bro president and chief executive officer Linda McCurdy said in the release.

Based in Edmonton, Alta., K-Bro provides a comprehensive range of general linen and operating room linen processing, management and distribution services to large health care institutions, hotels and other commercial accounts.

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