Milbank LLP represented Charlesbank Credit Opportunities Fund and its affiliates as lead arranger, lender and administrative agent in connection with a subordinated loan facility supporting Ascensus Specialties LLC’s (“Ascensus”) acquisition of Strem Chemicals, Inc. (“Strem”).
Washington-based Ascensus, a portfolio company of Wind Point Partners, is a leading producer of borohydride, borane and specialty alcoholates.
Massachusetts-based Strem is a global leader in high-purity, research-grade catalysts, ligands, organometallics, metal carbonyls and CVD/ALD precursors. Strem sells and manufactures specialty chemicals for the most demanding, high-purity end markets of life sciences, microelectronics and other specialties markets.
The Milbank Global Leveraged Finance team was led by New York-based partner Jerome McCluskey with associates Jenny Saufley and Jinney Chung.
