Permira refinances auto-information provider

The refinancing follows the borrower’s rebranding and preparation for further product launches in 2017.

Permira Debt Managers has provided unitranche refinancing for pan-European automobile-information firm Autovista Group. The refinancing was facilitated through the Permira Credit Solutions III fund, an announcement from the firm notes.

Terms of the refinancing could not be determined by time of publication.

The refinancing comes of the heels of Autovista Group rebranding. According to the borrower’s website, the firm, previously known as EurotaxGlass Group, recently adopted a new name with a view to launching new products in 2017.

The firm has multiple arms across Europe and focuses on providing information around the automobile industry to dealers and insurers.

The Permira Credit Solutions Fund III had a first close on €900 million in December having launched earlier 2016. The firm raised €800 million for the offering’s predecessor.

The Autovista deal is not the first refinancing transaction the firm has pursued in 2017. The firm acted as the sole participant in the refinancing of a UK-based holiday parks firm in January.

A spokesman for Permira did not return calls seeking comment beyond the announcement by time of publication.