Zolfo Cooper has completed a debt raising mandate on behalf of PE-firm Agilitas Partners, to finance the acquisition of Financiere Ionisos SAS (Ionisos). The firm delivered a financing package as a result of which Ionisos will be able to grow and pursue international expansion.
Agilitas Partners is an in 2010 established private equity firm that invests in sectors influenced by regulation or government action across Western Europe. The PE-firm typically invests in companies with enterprise values in the range of €50 million and €300 million.
Recently, the company bought Ionisos, one of Europe’s leading providers of cold sterilisation services, from Naxicap Partners. To finance the acquisition, Agilitas raised capital, which was supported by among others Zolfo Cooper, a UK-based consulting firm specialsied in financial advisory.
The debt advisory team, led by Zolfo Cooper advisor Jacco Brouwer, ran a competitive debt raising process and delivered "an attractive financing package", states the firm, comprising a unitranche* facility (provided by Intermediate Capital Group) and a revolving credit facility** (provided by BNP Paribas). The unitranche includes a committed add-on facility which, alongside significant future capital from Agilitas, will allow Ionisos’ management team to grow the business in France by expanding its treatment capacity and enlarging the services offering, and to pursue international expansion to transform Ionisos into a truly pan-European business.
Tom Cox, Director in Zolfo Cooper’s Debt Advisory team, comments, “We are delighted to have taken a lead role advising Agilitas on another transformational buy-out opportunity. Ionisos is an exciting platform with real growth potential and we received significant interest from prospective lenders keen to partner with Agilitas to deliver on its pan-European growth strategy.”
* A unitranche debt is a type of debt that combines senior and subordinated debt into one debt instrument.
** Revolving credit is a type of credit that does not have a fixed number of payments.