Transaction Details

June 18, 2020
Frankfurt

Sector

Technology

Deal Type

Debt advisory, Refinancing

Deal Team

Norbert Schmitz, Johannes Schmittat, Nikolaus Clary, Armin Klose

GCA Altium advised Waterland on the refinancing of Tineo Group and the add-on financing of netrics

GCA Altium supported Waterland Private Equity in establishing an attractive financing package, which allowed to refinance existing loans at Tineo Group as well as to finance the add-on acquisition of netrics, in order to create a leading Swiss ICT service provider.

Tineo, based in Münchenstein, and nexellent, based in Zurich-Glattbrugg, entered into a partnership last November, with the strategy of driving organic and inorganic growth, broad geographical coverage and the completion of the product range.

netrics broadens the service portfolio with its expertise in consulting services and implementation with a focus on digitalisation using the public cloud, whilst Tineo and nexellent bring with them their own infrastructures and had already bundled competencies in the areas of private cloud services, data centre and connectivity in their partnership. Furthermore, netrics has considerable expertise in cloud management and, in particular, is contributing its trend-setting modern workplace services.

The growth potential of the new group is based on a strong foundation: the combination of proprietary, high-performance cloud, network and data centre infrastructures with offerings from the public cloud, a complete consulting and service offer with high vertical integration, a complementary customer base and a nationwide geographic presence.

GCA Altium supported Waterland to establish a tailored financing package by a Swiss senior bank club that supports the strong growth of the new Tineo Group.

Norbert Schmitz, Managing Director at GCA Altium, stated: “Despite extraordinary circumstances caused by the Corona pandemic GCA Altium managed to complete the process within two months at highly attractive terms.”

The transaction closed in June 2020.

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