VDM Metals Holding GmbH, a portfolio company of the private equity investor
Lindsay Goldberg, has refinanced in full its syndicated borrowing base facility
that was entered into in connection with the acquisition of the VDM Metals Group
by Lindsay Goldberg. The refinancing comprised a combination of several
financing instruments, consisting of a bilateral term facility of 30 million
euros with IKB Deutsche Industriebank AG, a revolving facility of 150 million
euros with a consortium comprising German and international banks, and a
factoring programme for 100 million euros with Postbank. Gleiss Lutz provided
VDM Metals with comprehensive advice on all financing issues of the refinancing.
Based in Werdohl, North Rhine-Westphalia, VDM Metals has a global
workforce of approx. 2,000 employees and generates annual sales of over EUR 1
billion. The company is a leading provider of nickel alloys, titanium and
zirconium for use in highly corrosive environments – from aviation to chemical
engineering, in the oil and gas sector, power generation as well as in car
manufacturing, electronics and electrical engineering.
Lindsay
Goldberg is a U.S. private equity fund that manages approx. USD 10 billion in
assets. Gleiss Lutz regularly advises Lindsay Goldberg and its portfolio
companies in connection with acquisition financings und refinancings. Gleiss
Lutz already advised Lindsay Goldberg comprehensively on its acquisition of the
VDM Metals Group from ThyssenKrupp in the summer of 2015.
VDM Metals
was supported by the following team of Gleiss Lutz lawyers: Frank Schlobach
(partner, lead), Dr. Dr. Tajan Tober, Dr. Jan-Alexander Lange (all finance, all
Frankfurt).
Cravath Swaine & Moore advised on aspects of U.S. law.
Forward
