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Mike Tuffy International President Optimas Solutions

 

6th January 2021

As we enter 2021, I wanted to provide you with a detailed update on the positive financial and capital structure developments for Optimas that positions us as a key long-term supplier to . 

Optimas is outperforming both pre-Covid and post-Covid financial expectations due to significant structural cost reductions, new investments in IT tools and productive capacity, improved sourcing to deliver lower costs to our customers and enhanced commercial organization with expanded product offerings to serve our customers’ needs. 

We recently completed a comprehensive refinancing transaction on December 30, 2020 with our key lending partner in conjunction with our owner American Industrial Partners (AIP). The new debt structure will reduce funded debt by ~$70mm (~30%) with pro forma debt levels at the lowest levels since the business was carved out of Anixter in 2015. 

Interest expense has been reduced by half and maturity moved out by 3 years.   After the refinancing, we estimate the Company’s Debt/Equity ratio to be approximately 50/50 and project Net Debt/LTM Adjusted EBITDA to be less than 3.5x in Q2 ’21. 

We are excited about the future at Optimas and look forward to our continued partnership with .  If you have any questions, please don’t hesitate to reach out to me to discuss further. 

Yours sincerely 

Mike Tuffy International President Optimas Solutions Signature

Mike Tuffy 

President, International