The Global Mid-Market Specialist
Munich– Chequers Capital has acquired Spandex – Alantra advised Chequers Capital as exclusive M&A and Debt Advisor.
Chequers Capital announced that it has acquired Spandex, a leading distributor of graphic media and equipment to the signage and visual communication industry, from funds advised by Gilde Buy Out Partners. Chequers Capital together with the management team has acquired 100% of the shares in the Company. The transaction was closed on January 29, 2016.
Alantra supported Chequers Capital during the entire M&A process as well as in structuring the acquisition financing in form of a combination of senior debt and subordinated debt to be provided by a consortium of Commerzbank AG, IKB Deutsche Industriebank AG (both joint bookrunners & mandated lead arrangers), NIBC Bank N.V. and UBS Switzerland AG (both mandated lead arrangers) as well as Crescent Capital Group L.P. (subordinated debt provider).
Headquartered in Switzerland, Spandex connects manufacturers of the world’s leading media brands and equipment to more than 33,000 SME customers. Spandex has leading market positions in 13 European countries and in Australia. Customers are served through multiple efficiently located sites across these countries. Spandex’ management team has successfully transformed and grown the business over the last years and has built the leading player in its markets. Next to growing organically, Spandex significantly enhanced its market position through seven add-on acquisitions in the last three years. For the future, Spandex is set to further drive consolidation in the industry and will benefit from growth in wide-format digital printing driven by positive trends of personalisation.
Originally founded in Paris in 1972, Chequers Capital has unique experience in acquiring and developing small, medium and large-sized companies in partnership with their management. With ¬financial resources of €1.5 billion at its disposal, Chequers Capital invests in companies with an enterprise value of between €50 million and €500 million. Investments cover all sectors of industry, distribution and services in Europe. Until today, Chequers Capital has carried out almost 300 transactions.
We use our own and third-party cookies to improve our services and show you advertising related to your preferences by analyzing your browsing habits. If you go on surfing, we will consider you accepting its use. You can change the settings or get more information here.