CVC Credit Partners ("CVC Credit") announced today that CVC Credit's U.S. Middle Market Private Debt business acted as Administrative Agent on a first lien senior secured debt facility provided to Shannon Specialty Floors, LLC ("Shannon").
The proceeds were used to support the acquisition of Shannon by Teknoflor Acquisition Company LLC, refinance existing debt and support future growth.
Founded in 1921 and headquartered in Milwaukee, WI, Shannon is a designer, marketer, and distributor of resilient flooring products to the healthcare, senior care, hospitality, retail and education sectors.
Brian O'Reilly, Managing Director in CVC Credit Partners' Private Debt business, said: "Shannon is perfectly placed for future growth, with its expanding product selection and superior quality. We are very happy to partner with Shannon and look forward to supporting the Company through its next stage of growth."
Harlan Stone, Managing Director of Teknoflor Supply LLC, commented: "We were delighted to work with CVC Credit on this transaction. Their team were flexible and creative throughout the deal process."