Transaction Details

August 6, 2015
Frankfurt, Munich

Sector

Consumer, Retail, E-commerce and Leisure, Industrials and Industrial Technology

Deal Type

M&A, Debt advisory, Equity

Deal Value

N/D

Deal Team

Dr Martin Kühner, Dr Johannes Schmittat, Dr Georg Schultze, Madeleine Jahr, Tobias Levedag, Adrian Nowitzki, David Thomas

GCA Altium advises Prym Group on a partnership with an investment holding and the installment of a new syndicated loan facility

GCA Altium acted as exclusive financial adviser to Prym Group, a diversified market leader and manufacturer of high-quality metal products, on the partnership with an investment holding and the complete refinancing of its existing debt with a new syndicated loan facility.

Prym Group, founded in 1530, is the oldest family-owned industrial company in Germany. With c. 3,500 employees and a production network of 13 sites around the world, the group is represented in more than 60 countries. In 2014, Prym Group generated sales of c. € 360 m.

The group is a global market leader in all its three operating divisions, namely Prym Consumer, Prym Fashion and INOVAN. Prym Consumer is a leading global supplier of creative sewing and needlework products, as well as accessories for fashion, home decoration and lingerie. Its products are sold under several brands, most notably under the Prym (Europe) and Dritz (US) brands. Prym Fashion is a leading supplier of rivetable press fastening systems and accessories to the apparel and textile industries. INOVAN is one of the most innovative and experienced manufacturers of complex electromechanical components and materials, semi-finished goods and surface technology for the contact technology sector globally.

The investment holding is replacing an existing minority investor in Prym and intends to support the group’s growth strategy in the long term. Shareholders of the investment holding are solely entrepreneurs or entrepreneurial families.

Simultaneously, Prym has refinanced its existing debt by replacing existing bilateral loans with a new syndicated loan facility. Prym was able to significantly improve the terms of its financing given the strong development of the Prym business.

Jens Waldau, CEO of Prym Group commented: “Over the last two years, Prym has focused on streamlining internal structures and processes, which led to successful growth of all its businesses and strengthened its market position. Now, with our new, long-term partner with its broad industrial network and a new and simplified financing structure, we are able to focus on and accelerate our international expansion.”

The transaction was signed in July and closed beginning of August. This is the latest in a series of significant and highly complex transactions in the Consumer segment in which GCA Altium provided a comprehensive combination of M&A and debt advice.

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