Lindsay Goldberg backs Alro Steel with $2.82B financing package
What's the deal? Private equity firm Lindsay GoldbergDealroom has a profile for this one. Try Dealroom → has arranged $2.82 billion in financing to support its strategic investment in Alro SteelDealroom has a profile for this one. Try Dealroom →, a US metals distributor. The package combines debt instruments across notes, a term loan, and a revolving credit facility.
The breakdown: The financing includes $935 million in 7.375% senior secured notes due 2033 and a $1.135 billion senior secured first-lien term loan facility. It is rounded out by a $750 million senior secured asset-based revolving credit facility.
Who's involved? Latham & WatkinsDealroom has a profile for this one. Try Dealroom → advised Lindsay Goldberg, with partner Jason Licht and counsel Christopher Cronin leading the capital markets team and partner Kendra Kocovsky leading the banking and private credit team. The deal was announced in October 2026.
Why it matters? At $2.82 billion, the financing ranks in the 99th percentile among US energy-sector debt rounds on record, placing it near the top of a sample of more than 1,600 deals. The scale reflects the capital intensity of backing a large industrial distributor.
The signal: Asset-heavy industrial businesses remain fertile ground for private equity willing to assemble multi-tranche debt structures. By layering secured notes, a term loan, and a revolver, Lindsay Goldberg is spreading risk while securing the firepower to pursue its investment thesis in US steel distribution.
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