Lawson Products, Inc. (NASDAQ:LAWS), parent of Kent Automotive, announced it has entered into a new credit agreement increasing its maximum borrowing capacity from $40 million to $100 million. The new agreement also includes an accordion feature, subject to certain criteria as well as obtaining additional commitments from its lenders that would provide meaningful additional borrowing capacity. The five-year agreement provides for increased capacity for future acquisitions, combines multiple existing credit facilities and lowers borrowing spreads and unused commitment fees.
“We are extremely pleased to expand our bank group to include JPMorgan Chase and Bank of America and continue our long-term
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