Linx Partners, LLC is pleased to announce the refinancing of Northeastern Bus Rebuilders, Inc. and Global Bus and Fleet Services, Inc., the operating subsidiaries of NEBR Holdings, Inc. (“NEBR” or the “Company”).
NEBR, a leading provider of mass transit/coach bus repair and maintenance services, announced that the Company refinanced its senior credit facility with a new $22.3 million term loan under the Federal Reserve Main Street Lending Program and a $1.0 million revolving credit provided by People’s United Bank, National Association. Funds from the senior credit facility were used to repay NEBR’s outstanding senior debt and provide additional liquidity for working capital purposes.
“We are excited to have People’s United Bank as a financing partner for NEBR as the Company continues to provide innovative repair and maintenance services to the transit bus market,” said Mark Niznik, Managing Director of Linx Partners. “The new senior credit facility provides NEBR with flexibility to execute on its contractual backlog and pursue additional bus remanufacturing, structural repair and fleet maintenance opportunities in all alternative fuel technologies.”
Morgan, Lewis & Bockius LLP served as legal advisor to NEBR.
About Northeastern Bus Rebuilders
Headquartered in Ronkonkoma, NY, NEBR provides repair and maintenance services to the mass transit bus sector serving major cities, airports, and OEMs. The Company is a one-stop-shop for bus repair, offering technically advanced services including manufacturer warranty support, hybrid/alternative fuel engine support, extended warranty programs, mechanical repairs, structural repairs/fabrication, bus refurbishing, paint/body repair, and HVAC system servicing. For more information on NEBR, visit www.nebr.us.