Orbcomm has closed a $460m refinancing round to fund future growth.

The package refinances Orbcomm’s existing debt facilities and includes committed, undrawn capital capacity through a delayed draw term loan facility and a revolving credit facility.

This should provide the US company with committed capital and flexibility. It says it will continue to invest in long-term growth initiatives, supporting large-scale customer deployments, and expanding its platform.

Since its 2021 acquisition by GI Partners, Orbcomm has sharpened its focus, strengthened its operating model, and built a more scalable and differentiated platform across asset intelligence and connectivity. Today, the company serves more than 1000 enterprises and supports over three million connected assets globally.

Orbcomm delivers supply chain asset intelligence through its subsidiary Viachain (www.viachain.io) and global hybrid satellite-cellular IoT connectivity through Skywave (www.skywave.com). The firm’s products and services help users monitor, manage and optimise distributed physical assets across transportation, maritime, logistics and industrial markets.

“This refinancing reflects the momentum we’ve built and the clarity of where we’re going,” said Sameer Agrawal, CEO of Orbcomm. “We’ve been deliberate in strengthening the business, focusing on where we win and how we create durable value for our customers. The additional committed undrawn facilities give us incremental flexibility to continue investing behind that strategy, expanding our platform, supporting long-term customer deployments and deepening the role we play in delivering real-time intelligence and operational outcomes. As real-time data and AI become more central to physical operations, Orbcomm is well positioned to expand the value we deliver.”

Orbcomm (www.orbcomm.com) specialises in industrial IoT, delivering visibility, intelligence and efficiency to critical operations.

The refinancing reflects support from institutional investors including Carlyle, Bain Credit’s Private Credit Group and Morgan Stanley Private Credit.