Element Materials Technology, a 3i-backed Dutch testing and inspection group bought in 2010 from Stork, has secured a $93.3m (€118.6m) refinancing package.
The new debt line will be used for Element's buy-and-build and has already been used to pay for the acquisition of Materials Engineering Research Laboratory (MERL), based in Hertfordshire, UK.
MERL serves clients in the oil and gas, aerospace and transport sectors and follows the add-on of US firms Mar-Test of Cincinnati, Ohio and DTL of Detroit.
According to 3i, Element's five existing banks and a further two lenders subscribed to the refinancing, a sign of the quality of the business.
3i bought the testing unit, then called Stork Materials Technology, for €150m two years ago.