Livingstone has advised the apt Hiller Group on the creation of a new bank consortium and implementation of consortium financing of EUR 32.5 million.
Apt Hiller manufactures and refines aluminum profiles at four locations in Germany, the Netherlands and the Czech Republic. The company handles everything from recycling to extrusion presses, mechanical and surface refinement, as well as assembly of finished assemblies. Apt Hiller supplies market leaders from the construction, architecture and industrial sectors as well as leading truck and bus manufacturers. The company employs some 800 employees.
The consortium financing will not only refinance credit lines of a historically large banking entity, but above all cover operating resources and growth financing. The consortium provides funding for up to five years. Under the leadership of NORD / LB Norddeutsche Landesbank Girozentrale as the Mandated Lead Arranger (MLA) and the largest individual lender, WGZ Bank AG Westdeutsche Genossenschafts-Zentralbank, HSBC Trinkaus & Burkhardt AG and IKB Deutsche Industriebank AG also participated in the financing of the consortium.
After the sale of a majority of the shares to the Chinese SEDANT Group in 2015, on which Livingstone advised, the financing structure was streamlined and the credit conditions successfully optimised. The new structure provides the company with a financing framework appropriate for its size and international business model.
“It was a great pleasure for us to be able to help the company and its partners once again. The international group of companies now has a cross-group financing structure adapted to the changed framework conditions after the M&A transaction and the current company structure. For our client, we were able to successfully implement an attractive overall package in terms of interest rate, credit volume and credit conditions,” says Christian Grandin, Partner at Livingstone.
For Livingstone, this is the seventh successful Debt Advisory transaction in the past twelve months. In addition, it was the second time within twelve months that Livingstone successfully advised the apt Hiller Group and its shareholders on a transaction.