TWIN DISC INC (TWIN): debt financing — Twin Disc closes $16.5M acquisition of Kobelt, secures $65M credit facility

TWIN DISC INC

Acquired Kobelt Manufacturing for CAD $23.4M (USD $16.5M); paid CAD $23,397,932 at closing.
Kobelt generated ~$14M revenue in 2024; acquisition expected to be immediately accretive to GAAP earnings.
New $15M term loan (maturity Apr 2027) and $50M revolver with Bank of Montreal; refinances prior credit agreement.
Dividend capped at $5M per fiscal year under new credit agreement; borrowing base includes Kobelt receivables/inventory.
Kobelt adds brake, control, steering systems for marine/industrial; combined global sales and service team to expand reach.

item 1.01 item 8.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

TWIN DISC INC incurred term loan of Term Loan in the principal amount of $15,000,000 with Bank of Montreal at SOFR, EURIBO Rate, or CORRA plus Applicable Margins between 2.125% and 3.625% fo maturing April 1, 2027.

Instrument: term loan
Principal: Term Loan in the principal amount of $15,000,000
Counterparty: Bank of Montreal
Rate: SOFR, EURIBO Rate, or CORRA plus Applicable Margins between 2.125% and 3.625% fo
Maturity: April 1, 2027
Event: incurrence

Exact text from the filing

that are not otherwise defined herein are defined in the Credit Agreement. Pursuant to the Credit Agreement, the Bank made a Term Loan to the Company in the principal amount of $15,000,000, consisting of as assignment of a term loan under the Prior Credit Agreement from BMO to the Bank with a remaining principal of $8,500,000 and an additional advance of $6,500,000.

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Source: SEC EDGAR

accession 0001437749-25-004129

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