Trillium Flow Technologies Successfully Completes Refinancing

Rhea-AI Summary

Trillium Flow Technologies, a portfolio company of First Reserve specializing in engineered valves and pumps for critical infrastructure, has completed its refinancing in December 2024. The new credit facility, led by Blue Owl Capital Inc., provides extended maturity, enhanced liquidity, improved terms, and increased flexibility for M&A activities.

The refinancing supports Trillium's organic growth strategy, focusing on innovation and operational excellence. JP Morgan and BDTMSD continue their commitment as lending partners. The company serves important sectors including nuclear power, water, wastewater, and industrial processing, positioning itself as a leading player in the flow control industry.

Positive

• Successfully completed refinancing with improved terms and enhanced liquidity
• Secured extended maturity and increased flexibility for M&A activities
• Maintained support from existing lenders (JP Morgan and BDTMSD)
• Reported successful performance in 2024

Negative

• None.

STAMFORD, Conn., Jan. 13, 2025 /PRNewswire/ -- Trillium Flow Technologies ("Trillium"), a portfolio company of First Reserve, and a global designer, manufacturer, and aftermarket services provider of highly engineered valves and pumps used in critical infrastructure sectors such as nuclear power, water, wastewater, and industrial processing, is pleased to announce the successful completion of its refinancing in December 2024.

The refinancing provides Trillium with extended maturity, enhanced liquidity, improved terms, and increased flexibility to support further M&A activity.

Kerem Yilmaz, Chief Financial Officer of Trillium, commented: "We are pleased to cap a successful 2024 with this significant milestone and to enter 2025 with strong momentum. We are excited about our new credit facility, which is led by funds managed by Blue Owl Capital Inc. ("Blue Owl"). We would also like to thank JP Morgan and BDTMSD for their continued commitment and support of our business. This refinancing positions us well to execute our organic growth strategy, which includes investing in innovation and operational excellence to better serve our customers. We aim to remain active in M&A as a leading player in the flow control industry."

Matt Tier, Managing Director at Blue Owl, said: "Trillium has a long and successful track record as a global supplier and aftermarket service provider of mission-critical valves and pumps used in a variety of industries. We are excited to welcome Trillium as borrower in our direct lending portfolio and look forward to supporting Doug, Kerem and the rest of the leadership team as they execute on their growth strategy for the business in the years to come."

Doug Kitani, Chief Executive Officer of Trillium, said: "I'd like to extend my deepest gratitude to our finance team, equity partner First Reserve, and our lead lender, Blue Owl, for their support throughout this successful refinancing, and I especially want to recognize our employees for their exceptional performance in 2024. This milestone reflects our collective dedication and positions Trillium for continued innovation, growth, and leadership in the global flow control industry."

About Trillium Flow Technologies
Trillium Flow Technologies is a global designer, manufacturer, and aftermarket services provider specializing in highly engineered valves, pumps, and related products. Serving customers in critical infrastructure industries, Trillium is committed to delivering innovative solutions that enhance reliability, safety, and efficiency.

For more information, visit: www.trilliumflow.com.

About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.

With $235 billion in assets under management as of September 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,050 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.

About First Reserve:
First Reserve is a leading global private equity firm investing across diversified energy, utility, and industrial end-markets. Founded in 1983, First Reserve has more than 40 years of industry insight and has cultivated a differentiated network of global relationships. The firm has raised over $34 billion of aggregate capital and has developed operational expertise built from over 750 transactions, including platform investments and add-on acquisitions. For more information, visit www.firstreserve.com.

Media Contact
Chris Molineaux
Global Marketing and Communications Director, Trillium Flow Technologies
media@trilliumflow.com

 

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SOURCE Trillium Flow Technologies

FAQ

What are the key benefits of Trillium's December 2024 refinancing?

The refinancing provides Trillium with extended maturity, enhanced liquidity, improved terms, and increased flexibility for M&A activities.

Who are the main lenders in Trillium's new credit facility?

The new credit facility is led by Blue Owl Capital Inc., with continued support from JP Morgan and BDTMSD.

What industries does Trillium Flow Technologies serve?

Trillium serves critical infrastructure sectors including nuclear power, water, wastewater, and industrial processing.

What is Trillium's growth strategy following the refinancing?

Trillium plans to execute an organic growth strategy focused on investing in innovation and operational excellence, while remaining active in M&A as a leading player in the flow control industry.