Chiltern Capital | Amerplast
finnCap Cavendish Debt Advisory supports Chiltern Capital on cross-border M&A
Chiltern Capital has acquired Finnish flexible packaging company, Amerplast, and will combine it with Hanmere Polythene and Plasmech Packaging to form an enlarged, pan-European group.
Amerplast CEO, Mark Rooney, becomes the group CEO, working with Chairman, David Lennon and CFO, Jim Farrell, as well as the wider senior management team, to lead the business in delivering its ambitious growth plans.
The transaction was financed by a £52m multicurrency unitranche facility provided by Arcmont Asset Management and advised by finnCap Cavendish.
David Butler, Investment Manager, Chiltern: “This acquisition demonstrates Chiltern’s desire to support its portfolio companies in delivering both organic and inorganic growth. finnCap brought a number of financing options to the table to fund the acquisition and we are delighted with Arcmont as our partner going forward.”
Alistair Hay, Partner, finnCap Cavendish: “We are delighted to have had the opportunity to advise Chiltern on this transformational, cross-border acquisition. Arcmont stood out as the ideal funding partner for the Group having devoted significant efforts to tailoring a uniquely-structured solution to finance the transaction.”
“This deal represents a fantastic opportunity for our investors to support an established and well managed business with an excellent reputation in the facilities management sector. We are delighted with the debt financing package arranged by finnCap, which was a critical element to the completion of the transaction. We were extremely pleased with how the process was managed by the finnCap Debt Advisory Team, which provided us with optionality to select the most appropriate banking partner for CMS.”
The conclusion of the debt refinancing, with the support of finnCap Debt Advisory, is a significant and positive step for Iofina and is the culmination of many months of hard work. The favourable terms of this refinance demonstrate how far Iofina has progressed in recent years, given that the Company has significantly reduced debt, lowered debt interest rates, and secured a strong lending bank partner. With the Company’s balance sheet significantly strengthened by the 7-year term loan in place coupled with the revolving line of credit for future growth, Iofina is focused on operational developments and expanding its production and chemicals product portfolio.
I am delighted that we have secured a new loan facility an that our three existing funders continue to support the business during this challenging period, demonstrating their confidence in Morses Club and our growth and digital diversification strategy.