Calian exercises accordion feature of credit facility

Executive Summary

• Calian increased its committed credit facility by $75 million via an accordion feature, raising total capacity to $275 million, with $165 million currently drawn and a net debt-to-adj EBITDA ratio of 1.2x.
• The company announced that Derek Clark, President of the Essential Industries business unit, is departing to pursue a new opportunity, with an internal search for a replacement underway.
• Management highlighted the strengthened balance sheet to support strategic acquisitions and organic growth, citing a $1.4 billion backlog and favorable trends in defense and space sectors.

Key Details

• Credit facility increased by $75 million via accordion feature, bringing total committed capacity to $275 million.
• Original facility renewed on Sept. 29, 2025, for a three-year term with a total capacity of $350 million.
• As of Dec. 31, 2025, $165 million was drawn on the facility.
• Net debt to adjusted EBITDA stands at 1.2 times.
• Derek Clark, President of Essential Industries, is leaving the company; vice-presidents will maintain continuity during the search for a new president.
• Company cites a $1.4 billion backlog and favorable tailwinds in defense and space industries to support capital deployment.

Notable Quotes

• Will Majic, Acting CFO: "This increase strengthens our capacity to pursue acquisitions while continuing to invest internally to capitalize on the organic growth opportunities we are seeing... With favourable tailwinds in the defence and space industries and a robust backlog of $1.4-billion, we are well positioned to deploy capital strategically and continue to drive shareholder value."
• Patrick Houston, CEO: "We thank Derek for his contributions to Calian. We have a strong and experienced leadership team within Essential Industries, and I look forward to working closely with them to continue advancing the business."