Investec finances chemical firm acquisition

Investec Specialist Bank’s division focusing on mid-market financing has provided debt capital to facilitate a buy-out by private equity firm CBPE Capital.

Investec Growth & Acquisition Finance has provided debt capital facilitating the acquisition of German-based chemicals provider SAFECHEM Europe by private equity sponsor CBPE Capital.

According to a company announcement, Investec is providing €20 million of senior secured debt as part of the financing. It will also provide a €2 million revolving credit facility supporting the growth of the to-be acquired company.

Further terms of the financing could not be determined by time of publication. SAFECHEM Europe provides products related to the safe and sustainable use of solvents for surface and dry cleaning.

The deal represents the fourth time Investec has invested in a German-based chemical company via its direct lending platform, the announcement notes. It is also the third time Investec has been involved in a transaction with CBPE Capital.

Investec Growth & Acquisition is part of Investec Specialist Bank, focusing on financing mid-market companies. In November last year, Investec Specialist Bank boosted its financing capabilities by hiring four executives to its fund financing team.

A spokesman for Investec was unable to comment beyond the announcement by time of publication.