Norwalk, CT – June 18, 2024 – Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as Administrative Agent providing a First Out tranche in a Senior Secured Credit Facility supporting Sparkstone Electrical Group (“Sparkstone”). Sparkstone is a provider of custom-engineered electrical power distribution equipment, including switchgear, switchboards, panelboards, and control panels.
The Senior Secured Credit Facility was used to refinance the existing capital structure and provide growth capital. The facility consisted of Revolver, Term Loan, and Delayed Draw Term loan tranches.
Encina’s ability to act as Administrative Agent on the credit facility including providing the entire revolver, along with a customer focused, flexible and efficient approach and meaningful commitment contributed to a successful execution along an accelerated timeline.
About Encina Private Credit
Encina Private Credit is a specialty finance company that partners with direct lenders to provide First Out enterprise value loans to private equity-sponsored and non-sponsored borrowers. EPC provides credit solutions in the form of First Out priority revolvers, term loans, and DDTLs. For additional information, please visit EPC’s website at https://privatecredit.encinacapital.com/