August 13, 2015
Industrials and Industrial Technology
Debt advisory, Refinancing
GCA Altium advises on the refinancing of Gienanth
GCA Altium acted as exclusive debt adviser to Gienanth Group on the re-leveraging of its balance sheet following the all equity purchase of the group by DBAG FUND VI earlier this year.
Gienanth, an iron foundry, produces castings. The company focuses on hand mouldings for industrial engine blocks and machine mouldings for the automotive sector. The group has around 900 employees and operates manufacturing sites in Eisenberg (Rhineland-Palatinate) and Fronberg / Schwandorf (Bavaria).
The refinancing of the company was provided by a club of savings banks led by Kreissparkasse Biberach and Sparkasse Rhein-Nahe. Along with long-term acquisition facilities the financing package also includes a working capital facility, an additional growth facility as well as a factoring line which was provided by LUX Kapitalmarkt Management AG.
Dr. Björn Krönert, Gienanth’s CFO commented on the successful refinancing: “GCA Altium helped us to find an attractive and tailor-made financing structure which supports the company’s growth strategy and gives a maximum of flexibility. The cooperation with GCA Altium was excellent. The very responsive deal team offered constructive advice, which was essential for the success of the transaction.”
GCA Altium provided debt advice to Gienanth on all commercial aspects of the financing transaction and secured a competitive financing package which reflects the company’s specific requirements.