Alantra advised Quadriga Capital Beteiligungsberatung GmbH on the debt refinancing of Ipsen International GmbH
Alantra has advised Quadriga Capital (“Quadriga”) on the recapitalization of IPSEN International Holding GmbH (“IPSEN”). Established in 1948, today, IPSEN is the global market leader in mission-critical integrated heat treatment solutions. Alantra’s Frankfurt team provided exclusive debt advice.
In a competitive process – including international banks and debt funds – Alantra structured an attractive unitranche debt package including an acquisition facility as well as flexible guarantee and international RCF facilities which were provided by a consortium of two super senior banks.
“We are very pleased to have secured a sustainable and well-structured financing package for IPSEN for the next years, which also included a dividend payout. Given IPSEN’s strong growth, a global extended NWC facility as well as an acquisition facility to support future acquisitions will enable the company to further accelerate its organic and inorganic growth initiatives. The Alantra team has done a great job structuring this deal in light of the complexity of global scale business in Europe, US and Asia.”, remarked Jörg Mugrauer, Partner at Quadriga Capital.
“This transaction marks the second successful recapitalization for Quadriga within the past twelve months and represents another milestone transaction within the German industrials sector”, stated Robert von Finckenstein, Managing Partner and Head of Debt Advisory at Alantra’s Frankfurt office.
IPSEN (www.ipsen.de), based in Kleve, Germany and Rockford, USA, and with several facilities in Asia, manufactures high temperature heat treatment systems for a wide range of industrial purposes, including but not limited to aerospace, automotive and industrial machinery end-markets. With 25 global subsidiaries and a workforce of approximately 900 employees, IPSEN generates revenues in excess of €220m. On the basis of more than 10,000 active systems, IPSEN maintains the largest installed base in the market. This, together with a comprehensive offering (incl. spare parts, installation and maintenance services as well as software upgrades and retrofit), allows IPSEN to obtain almost half of its revenues from the aftermarket segment.
Quadriga Capital Funds are specialized in organizing majority acquisitions of medium sized growth companies to support their internal and external growth. With a long-standing track record dating back to the 1990’s, more than 120 investments in 4 target sectors, Quadriga Capital has a unique network in the German-speaking region and neighbouring countries. Current funds under management comprise more than €1.5bn.
Sep 2021Independent valuationSep 2021SECTOR IndustrialsService Strategic Advisory
Aug 2021Buy-side advisoryValue €300 millionAug 2021SECTOR IndustrialsService M&AValue €300 million
Aug 2021Sell-side advisoryAug 2021SECTOR IndustrialsService M&A
Jul 2021IPOJul 2021SECTOR IndustrialsService Equity Capital Markets