Industrials, Technology | Debt & Equity Recapitalizations

Micromeritics Completes Debt Financing

  • TM Capital served as exclusive financial advisor to Micromeritics Instrument Corporation in structuring and arranging an all-senior financing used to retire its existing senior and subordinated indebtedness
  • Micromeritics is one of the world’s leading designers and manufacturers of proprietary particle measurement instruments and accessories sold into industrial, educational and governmental research and testing lab environments across the globe
  • The financing was secured entirely from SunTrust Bank and replaced Micromeritics’ existing debt with more cost-efficient and flexible capital
  • The new debt facility, which includes an accordion feature, affords the Company enhanced capacity to pursue strategic growth initiatives
  • This is the third transaction which TM Capital has completed for Micromeritics in a relationship which commenced with its prior management-led recapitalization to acquire the 50% equity stake controlled by non-management shareholders

Client Testimonial

By lowering our cost of capital and dramatically increasing our flexibility, this transaction further strengthens the financial foundation we established with TM Capital’s guidance in the 2012 recapitalization.  TM Capital drove a process which assured a 'market clearing' result and maximum efficiency by providing our incumbent lender with detailed information – packaged to signal our intent to market the credit broadly – and a brief window to preempt that marketing process.  The result was right out of the playbook.  They responded aggressively and we closed a terrific financing without incurring the time and distraction of a broad process.  In addition, TM’s structuring expertise resulted in a credit agreement with a number of valuable 'bells and whistles.'  Having TM to lean on gave me comfort that we’d get the best deal possible, and also minimized diversion of my time from other important projects.”
 Mike Pretiger, CFO, Micromeritics