Fausto Rinallo
Ethica Group
Nadella
Deal Type
Debt restructuring
Sector
Industrials
Completion Date
29th December 2015
Deal Value
€30m
Company Background
Nadella manufactures medium precision systems for the linear motion industry: linear guide systems, belt actuators, needle roller bearings, adjusting nuts and telescopic lines for various applications (machine tools, packaging machinery, power transmission, medical equipment, etc.).
Deal Summary
Amendment of the existing debt documentation in order to obtain more flexibility to pursue its consolidation strategy, following the acquisition by 21 Investimenti Private Equity fund in 2014, and obtain a better pricing.
Debt package
The financing package was structured as follows:
TA Euro 12 mln, 6 years amortizing, to fund the target’s growth strategy
TB Euro 16 mln 6 years amortizing, to fund the target’s growth strategy
TC Euro 2 mln, revolving, to support net working capital peak needs
Value Added
Thanks to its knowledge of the market and to its consolidated relationships with the banks involved, Ethica obtained a very competitive pricing, and a documentation structure that allows the borrower to pursue further acquisitions. This result was achieved thanks to Ethica's business contacts, favorable market conditions and asset quality.
In particular, Ethica has supported the Company all along the process by contacting the current lenders, structuring a waiver request in line with the defined financing strategy, coordinating all other professionals involved and negotiating the legal documentation.
Ethica played a key role in creating a competition amongst banks that has allowed the Borrower to obtain a very favourable debt package.
Nadella deal contacts
Key members of the Ethica Group deal team crucial in the Nadella transaction
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