Blackstone has arranged a first-lien term loan to help fund its purchase of a controlling interest in Flow Control Holdings. According to someone familiar with the deal who requested anonymity due to the sensitive nature of the details, UBS Group AG has been selected to supply the financing. The loan's amount and pricing have not been made public, and a UBS representative declined to comment. Two other people familiar with the process said the loan is slated to launch in the coming weeks, while the acquisition itself is expected to wrap up by year-end.
Flow Control provides parts for data-center liquid-cooling setups, and it also serves the food, beverage, and pharmaceutical markets. On Sept. 10, Blackstone reached a deal to acquire a controlling interest from Audax Private Equity, while Audax will keep a minority position. Representatives for Blackstone and Flow Control didn't promptly return requests for comment.
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This transaction adds to a busier calendar of acquisition financing in the floating rate leveraged-loan market after a quiet summer. JPMorgan pegs roughly $92 billion of leveraged financing still pending in the US for M&A. For everyday investors, that signals more deal-driven demand for floating-rate credit, and another signpost of how the AI buildout is pulling capital into the parts of the market built to fund it.
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