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HIG WhiteHorse finances €40m German power deal

The unitranche package backs Group Legris’s acquisition of Schiederwerk.

HIG WhiteHorse has supported the takeover of German power supply company Schiederwerk with a €40 million unitranche debt financing package.

The transaction enables Belgium-based industrial group Group Legris to complete the acquisition, which it said will enhance the German company’s market position in high voltage lighting products.

Schiederwerk was established in 1919. It provides power solutions for the development and manufacturing of medical and telecommunication devices and industrial equipment.

Appu Mundassery, managing director at HIG Whitehorse, said: “This transaction demonstrates our ability to support industrial businesses with bespoke, flexible and committed financing solutions in a timely manner.”

Erwan Taton, chief executive of Legris Industries, said: “This investment is fully aligned with our strategy to invest in growing, high quality market leaders.”

HIG WhiteHorse is an affiliate of Miami-headquartered HIG Capital. The firm targets investments in European and US mid-market companies, providing unitranche, senior and subordinated debt capital.

Its ticket range is between €10 million and €75 million for companies with an annual revenue of €40 million or more.

HIG Capital, founded in 1993, manages €18 billion of assets under management and has offices across the US and Europe as well as Brazil.