PCS2 to act as sole lender to David Brown Gear Systems02 July 2015
Permira Debt Managers (“PDM”), the debt management and advisory arm of Permira and one of Europe’s leading specialist debt investors, today announces that direct lending fund Permira Credit Solutions II is acting as sole lender to David Brown Gear Systems (“David Brown”) to support its continued growth.
A £48m senior secured term loan provided and arranged by Permira Credit Solutions II (“PCS2”) is being used to refinance existing debt and to support the business’ continuing growth across its global network of manufacturing and service facilities.
David Brown has been recognized as a leading specialist in industrial gear engineering and innovation for more than 150 years. It designs, manufactures, distributes and services highly engineered to order industrial gear and drive systems, products and related equipment for use in a wide range of industry sectors including land and marine defence, mining, oil and gas, conventional power, general industrial and rail. It has five manufacturing facilities across four continents and a growing global network of service centres and sales offices.