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Australia’s InfraBuild Lines Up Financing to Acquire Three U.S. Operations
06/01/2023 - InfraBuild, an Australian long products producer owned by Sanjeev Gupta’s GFG Alliance, has secured financing that will allow it to buy three U.S. wire rod operations also owned by GFG Alliance.
InfraBuild said in an announcement that it has closed on a US$350 million asset-backed term loan that will enable acquisition of Keystone Consolidated Industries, Johnstown Wire Technologies and GFG Alliance’s Georgetown, S.C., steel works.
“This financing provides strategic capital to InfraBuild, which will enable us to continue to grow our business and service a customer base which spans the infrastructure, commercial and residential construction, agriculture, and mining markets,” said InfraBuild interim chief executive and managing director Dak Patel.
The Australian Financial Review has more reporting on the deal here.
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