Sixth Street Leads $280 Million Financing Deal for Flexitallic

Sixth Street Partners is leading a $280 million financing package for Flexitallic Group, a sealing solutions company for the energy sector, according to people with knowledge of the matter.

The fresh funds may be split between a $255 million term loan and a $25 million revolver, said the people, asking not to be identified discussing private details. The proceeds will help Flexitallic refinance debt and support a dividend payment, they added, noting that conversations are ongoing and details may change. Flexitallic is backed by private equity firm Bridgepoint Group, which bought it in 2013.

Pricing on the term loan ...