Content about Clearlake Capital Group

July 10, 2013

Jacuzzi Brands LLC announced the completion of its financial recapitalization on Tuesday, a move aimed at reducing its debt burden and freeing up liquidity to take advantage of the improving economic outlook.

The transaction has reduced Jacuzzi's debt by about $124 million and extended the maturity dates of its loans to 2018 and beyond, made possible by a new ABL facility of $35 million (undrawn at close) and a new term loan in place of $80 million.