Three deals put Idinvest on course to full deployment by year end

Three investments of both unitranche and mezzanine bring the fund closer to full investment.

Idinvest Partners has made three private debt financings, bringing it closer to full investment of its fourth direct lending fund.

The France-based lender said it has invested €330 million so far this year across 15 companies in continental Europe. The firm closed its fourth fund in May this year, beating its €600 million target with a final close on €715 million.

At the time of the final close the fund was already 80 percent invested and the firm expects to have fully invested its fund by the end of the year. It is believed the firm will look to launch a successor vehicle in 2019.

Idinvest has arranged a mezzanine facility for Burger King France alongside Groupe Bertrand and equity sponsor Bridgepoint. This is the fourth time Idinvest has provided investment to support the company.

It has also arranged two unitranche financings. The first for translation agency Technicis to support its acquisition pipeline. This is the fourth time Idinvest has invested in Technicis having previously supported its expansion into France, Germany and the Benelux it will now support a planned move into Scandinavia in 2019.

The second unitranche loan was made to HQ Equity to support its acquisition of public transport system and communications businesses r2p and Open Access Pty.

Eric Gallerne, co-head of private debt at Idinvest Partners, said: “These latest transactions and our investment pipeline demonstrate our continued conviction in the strength of the European market.  Over the past decade, we’ve continued to develop our private debt activities to provide European SMEs with tailor-made funding solutions across the capital structure.”