Gleiss Lutz advises vitronet Group on refinancing and growth financing

A team of Gleiss Lutz lawyers has advised vitronet Group, a portfolio company of DBAG Expansion Capital Fund, in connection with its refinancing and growth financing. The lenders are various funds managed by investment management firm BlackRock for its customers. The project financing includes several unitranche facilities and a super senior working capital facility. Besides refinancing vitronet Group’s existing syndicated loan, the unitranche facilities will be used to finance future acquisitions. The parties have agreed not to disclose any further financial details.

DBAG Expansion Capital Fund has been investing in German and Swiss SMEs since November 2012. Purchased in June 2017, vitronet Group is one of the fund’s nine investments.

vitronet Group is the general contractor for nationwide fibre-optic and copper infrastructure projects. As a partner to energy and network providers, industrial enterprises and public sector companies, vitronet’s service portfolio includes planning, civil engineering services, cable pulling, fitting and maintenance work. With a workforce of 450, vitronet lays more than 1,000 km of fibre-optic cables and installs more than 20,000 FTTB connections each year.

The following Gleiss Lutz team advised vitronet on the financing measures: Frank Schlobach (partner, lead), Patrick Reuter, Anastasia Dressler (all finance, Frankfurt).