Private equity firm HIG Capital has turned to GSO Capital Partners for a €340 million unitranche package to refinance the existing debt of its portfolio company HCS Group after its attempt to sell the company through an auction process did not attract what it saw as the right price.
A source familiar with the situation told PDI that the private equity group felt that the “solid growth potential of the company was not reflected in the bids” HIG received for the chemical company it acquired in 2011.
