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Quarterhill Inc. has entered into a new $60 million senior secured credit facility with U.S. Private Credit Investments (PCI), a division of BTG Pactual Global Alternatives. The financing is intended to refinance existing obligations, redeem the company’s convertible debentures, fund transaction costs and expenses, and provide working capital.
The credit facility has a maturity date of May 12, 2031 and is secured by certain assets of Quarterhill. The company is subject to customary financial and non-financial covenants under the agreement.
All amounts in the press release are in U.S. dollars, unless otherwise indicated.
Proceeds from the facilities will be used to repay obligations under Quarterhill’s existing credit agreement, redeem the company’s convertible debentures, pay transaction fees and expenses, and provide working capital.
Quarterhill also established an incremental $100 million uncommitted accordion, subject to lender agreement and satisfaction of usual and customary conditions. The company said the accordion is designed to support inorganic growth initiatives and enable it to act quickly on accretive M&A opportunities as they arise.
Chuck Myers, Chief Executive Officer, said the agreement reflects a deliberate plan to reposition the company for sustained growth, citing progress toward returning to profitability, strengthening the balance sheet, and unlocking the next phase of organic and inorganic growth. He added that the facility is intended to anchor the balance sheet, mitigate foreign exchange exposure, and provide capital flexibility for accretive M&A.
Thomas Steiglehner, Head of U.S. Private Credit Investments at BTG Pactual Global Alternatives, said PCI is providing a flexible, long-term source of capital to support Quarterhill’s growth strategy, describing the company as fitting within PCI’s focus on resilient, mission-critical businesses.
ATB Cormark Capital Markets and Roth Canada acted as exclusive advisors in connection with the arrangement of the credit facility.
Quarterhill is a global provider in the Intelligent Transportation System (ITS) industry. The company states that its platforms process billions of transactions each year, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies to optimize thousands of lanes of traffic. Quarterhill also describes its use of artificial intelligence and machine learning to deliver automation and predictive insight for transportation network management.
BTG Pactual Global Alternatives’ Global Alternatives division reported approximately $10.9 billion in assets under management as of December 2025. PCI focuses on sponsored and non-sponsored businesses valued between US$ 50 million and US$ 2 billion, providing financing solutions across the capital structure through different economic cycles. The company said PCI’s flexible mandate supports refinancings, growth capital and companies in transition, typically through first lien term loans, unitranche, first-in, last-out, and second lien term loans in the approximate range of ~US$ 10 million to US$ 200 million.
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