TM Capital Advises Micromeritics in Refinancing

March 2015 | News & Press

TM Capital is pleased to announce that we served as exclusive financial advisor to Micromeritics Instrument Corporation – a leading designer, manufacturer and global distributor of proprietary particle measurement instruments and accessories – in structuring and arranging an all-senior refinancing secured entirely from SunTrust Bank. We assisted Micromeritics in architecting a credit facility, including an accordion feature, that will provide the Company with enhanced capacity to pursue organic and inorganic strategic growth initiatives. This transaction success further highlights TM Capital’s differentiated expertise in accessing the debt markets to achieve market clearing terms and develop creative structures that provide our clients the runway necessary to grow rapidly.

  • 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 refinancing 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

What Our Clients are Saying

“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 refinancing 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 Instrument Corporation

About TM Capital

TM Capital Corp. is a partner-owned investment banking firm based in New York, Boston and Atlanta, which has completed over 275 transactions with a combined value in excess of $17 billion. Since 1989, we have advised clients navigating a full range of critical transactions, including complex mergers, acquisitions, debt and equity financings, minority and majority recapitalizations, restructurings, and advisory services including takeover defense, fairness and solvency opinions and valuations. We have built deep industry expertise in key sectors and our team regularly publishes research highlighting current and emerging trends in targeted industries and markets. TM Capital is a member firm of M&A International Inc., the world’s leading alliance of mid-market investment banks with over 650 M&A professionals in 42 countries. Members have closed over 1,400 transactions totaling more than $75 billion in value over the past five years.


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