June 30, 2017
Industrials and Industrial Technology
Acquisition financing, Debt advisory
GCA Altium advises VTC Industriebeteiligungen on the financing of the acquisition of JK-Group
GCA Altium acted as debt advisor to VTC Industriebeteiligungen GmbH & Co. KG on the acquisition of 100% of the shares of JK-Holding GmbH from the founding family Walter Kratz. Over the last 30 years the family has led and developed the company to become the global leader in the sunbed industry.
JK, headquartered in Windhagen, Germany, develops, manufactures and distributes professional equipment under the brand names “Ergoline”, “BeautyAngel”, “SunAngel”, “Wellsystem” and “Virobuster”. The fields of application include professional tanning systems, natural collagen production, treatment of vitamin deficiencies and skin disorders to the relief of orthopaedic conditions with UV, near infrared devices and massage systems as well as air purification systems using UV. The JK-Group, an innovative leader in its field, operates subsidiaries in France, Great Britain, the Netherlands, Switzerland, Canada and the United States and has continually extended its market leadership. With 360 employees the corporate group generated a turnover of €100 million in 2016.
“JK is an excellent complement to VTC,” said Stefan Leuze, Managing Director of VTC. “As a global leader with strong brands and experienced management JK is excellently positioned in its core business. VTC will invest heavily in strengthening the core business further and additionally expects growth impulses from the fast growing fitness and beauty market.”
GCA Altium presented VTC various financing scenarios which involved incumbent as well as potential new lenders. Finally, the transaction was structured as a club financing consisting of two existing lenders and one new financing partner. Thorsten Weber, Director at GCA Altium, commented: “We are proud to have been chosen by VTC to structure the financing of this acquisition. The realised financing builds an excellent solution that fits perfectly to the company and its growth perspectives.”