Oldcastle BuildingEnvelope has completed a comprehensive refinancing that provides the company with $300 million of new capital, reduces its annual cash interest expense by approximately $50 million and extends its debt maturities to 2031.
The transaction strengthens the architectural building products company’s liquidity and provides additional resources that can be invested in its operations.
Oldcastle BuildingEnvelope manufactures, fabricates and distributes architectural hardware, glass and glazing systems across North America.
The refinancing received support from an overwhelming majority of the company’s lenders as well as KPS Capital Partners.
Earlier in 2026, KPS purchased more than 90% of Oldcastle BuildingEnvelope’s unsecured debt, representing more than $540 million in aggregate face value.
As part of the refinancing, participating lenders provided the company with a $300 million new-money, first-out term loan.
Oldcastle BuildingEnvelope also secured a $288 million first-out revolving credit facility.
Both the new term loans and revolving credit facility mature in June 2031, extending the company’s debt maturity profile.
KPS separately exchanged more than $540 million of unsecured notes for third-out term loans that bear payment-in-kind interest.
That exchange reduces Oldcastle BuildingEnvelope’s current cash interest requirements and is expected to provide additional cash flow that can be directed toward investments in the business.
Combined with the approximately $50 million reduction in annual cash interest expense, the refinancing is designed to provide the company with greater financial flexibility as it serves customers across architectural glass, metals, hardware and glazing supplies.
KEY QUOTES:
“This transaction is an important milestone for OBE, providing significant additional financial resources to invest in our business and continue delivering for our customers, suppliers and employees. We appreciate the continued support of our lenders and KPS as we work to make OBE the preferred one-stop shop for glass, architectural metals, architectural hardware and glazing supplies.”
Mark Adamson, Chief Executive Officer of Oldcastle BuildingEnvelope
“KPS has tremendous conviction in OBE and its future. We believe in the fundamental strength of the business and in Mark and his team, and our investment reflects that confidence.”
Raquel Palmer, Managing Partner of KPS Capital Partners and Chair of Oldcastle BuildingEnvelope’s Board of Directors
