WWRD, a luxury home and lifestyle company backed by KPS Capital Partners, has completed a two-step, $167.5 million recapitalization. The deal included a $117.5 million asset-based revolving credit facility and a $50 million term loan. The proceeds were used to refinance outstanding debt, fund a $50 million cash distribution to stockholders and support continued growth. WWRD sells luxury home and lifestyle items under a number of brands, including Waterford, Wedgwood, and Royal Doulton. BofA Merrill Lynch led a syndicate of banks in financing the round, and Bank of America Business Capital acted as administrative agent on both the credit facility and term loan.
