Bank of America walked away from providing financing for Clayton Dubilier & Rice's $520M deal to take Huntsworth private due to the volatility in the global markets.
The transaction ranks as the UK's biggest private equity buyout of the year.
Bloomberg reports that BoA's credit committee refused to sign off on the financial transaction.
Royal Bank of Canada stepped in via a $295M loan and $46M in revolving credits to bankroll the transaction, according to a regulatory filing.
BoA, RBC and boutique firm Houlihan Lokey Inc. served as advisers to CD&R.
Bloomberg noted that it's relatively unusual for a banker to advise a client on a deal and then decide against funding it.
Huntsworth owns Grayling, Red and Citigate Dewe Rogerson.