Wittur Holding GmbH
Wittur Holding GmbH: Wittur Group concludes Term Loan B repricing
DGAP-News: Wittur Holding GmbH / Key word(s): Financing PRESS RELEASE Wittur Group concludes Term Loan B repricing Wiedenzhausen, March 17, 2017 – The Wittur Group (ISIN: XS1188024548, XS1188025438) has successfully received allocations for its repriced and upsized EUR 449 million Term Loan B. The transaction reprices the firm’s existing EUR 410 million Term Loan B with the same maturity (E+612.5, 1% floor reduced to E+500, 1% floor, issued at par), while proceeds from the EUR39 million increase will be used to refinance borrowings under the revolving credit facility, which was used, among other purposes, for the financing of the Sematic acquisition and related integration costs. Founded in 1968, Wittur is one of the world’s leading independent elevator components manufacturers with an extensive global manufacturing footprint and sales network and a broad range of products. Its product offering features a large range of components for new elevator manufacturing and sourcing, for spare parts and for modernization and upgrades. Components made by Wittur span from sophisticated mechatronic components for elevator cabin and landing doors (including the associated opening mechanisms) to other critical components such as gearless drives, slings, safety gears and cars. Wittur was indirectly acquired by Wittur International Holding GmbH (formerly Paternoster Holding III GmbH) on March 31, 2015 (the “Bain Acquisition”). On April 1, 2016, Wittur further expanded its global reach and its portfolio with the acquisition of the Sematic Group (the “Sematic Acquisition”). Sematic S.p.A. and its subsidiaries (together, the “Sematic Group”), an Italian group founded in 1959, added a complementary product offering including complete elevator solutions, highly customised doors, electronic components and cabins. The Wittur Group has a work force of around 4,400 employees and conducts business in more than 50 countries. It is majority-owned by funds managed by Bain Capital.
17.03.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Wittur Holding GmbH |
Rohrbachstraße 26-30 | |
80259 Wiedenzhausen | |
Germany | |
Phone: | +49 (0)8134 18 – 0 |
Fax: | +49 (0)8134 18 – 49 |
E-mail: | info@wittur.com |
Internet: | www.wittur.com |
ISIN: | XS1188024548 |
WKN: | A14J5R |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart; Open Market in Frankfurt |
End of News | DGAP News Service |
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