Penfund invests $150 mln in H&F-owned Caliber Collision
Canadian junior capital provider Penfund has closed a US$150 million second lien debt investment in Caliber Collision Centers, a Lewisville, Texas-based auto collision repair business. The investment was part of a US$600 million second lien credit facility. The proceeds of this facility, together with the proceeds of a US$1.85 billion first lien term loan and US$300 million revolving credit facility, were used to fund Caliber’s merger with Abra Auto Body Repair of America. The merger, closed earlier this month, saw Hellman & Friedman (H&F) emerge as the majority investor. In December, Penfund wrapped up its sixth mid-market fund, Penfund Capital Fund VI, raising $1.15 billion.
14 February 2019•3 mins read
