KCPC gets debt commitment for buyout of Central Parking

By Sara Rosenberg

New York, Feb. 21 - KCPC Holdings, Inc. has received debt financing commitments, as well as equity commitments, to back its buyout of Central Parking Corp., according to a news release.

The debt and equity commitments total $903 million.

KCPC Holdings is a company that was formed by Kohlberg & Co., LLC, Lubert-Adler, LP, and Chrysalis Capital Partners, LP to buy Central Parking for $22.53 per share in cash.

Closing of the transaction is anticipated to be completed in the second quarter, subject to shareholder approval, requisite regulatory approvals and customary closing conditions.

Central Parking is a Nashville, Tenn., provider of parking and transportation-related services.

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