Grass Valley completes £174m refinancing
Grass Valley has completed a $220 million (£174m) refinancing led by investment funds managed by Morgan Stanley Private Credit.
This deal refinances the company’s existing debt, and comes after a year in which the company completed a restructure and named a new senior team. It also hired almost 200 employees globally, and claims earnings have increased over 100%.
Grass Valley now hopes to increase its investment in integrated hardware and software solutions, led by its AMPP production platform.
Peter Ma, managing director at Morgan Stanley Private Credit, who led its side alongside executive director Griffin Coakley and vice president Chris Brown, said: “We are excited to partner with Grass Valley and its management team on this transaction. The flexibility embedded within our senior debt investment along with the Company’s leading market position, comprehensive product portfolio and positive operating momentum position the business for significant future success.”