The Halifax Group has refinanced K2 Industrial Services
Lincoln International (“Lincoln”), a leading global mid-market investment bank, announced today the successful completion of a debt refinancing for K2 Industrial Services, Inc. (“K2”), a portfolio company of The Halifax Group (“Halifax”).
K2 is one of a few companies that works across multiple regions, providing industrial cleaning, multi-craft, coatings and specialty services to a variety of end markets, including facilities in the steel, refining, power, paper and chemical industries. K2 performs routine, mission-critical services that ensure customers’ production equipment operates safely and efficiently, while minimizing downtime. Over the past several decades, K2 has served blue-chip names in process industries and built a strong reputation for safety and responsiveness.
Lincoln acted as the exclusive financial advisor to K2 in securing debt financing commitments from a club of four institutions. Lincoln worked closely with K2 and its senior management team, as well as Halifax, on all aspects of the transaction, helping to structure, arrange, and negotiate the terms of the financing. Kent Greening, CFO of K2, commented, “The team at Lincoln acted as an extension of K2, working tirelessly to ensure a successful outcome. The new capital structure will provide the company with the flexibility to pursue several meaningful growth opportunities given the size and fragmentation of the market.”
Scott Van Duinen, Partner at Halifax, added, “We are thrilled to have new lending partners as we look to the next growth phase of K2 and were impressed by Lincoln’s reach and expertise in the middle market.”
About The Halifax Group
The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and grow leading lower mid-market businesses with revenues generally between $25 million and $300 million across a variety of industries, including outsourced business services, infrastructure, distribution and logistics, health and wellness, and franchising. The firm maintains offices in Washington, D.C.; Dallas, Texas; and Raleigh, North Carolina.
About K2 Industrial Services
Headquartered in Houston, Texas, with 15 branch locations in 10 states, K2 is a leading provider of both cleaning and multi-craft services. K2 employs a highly skilled workforce of over 1,200 full-time employees and can serve both union and non-union customers. The Company serves over 350 customers and has over 50 “nested” sites.
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