The NOK 1,215,000,000 senior facilities backing Capvest’s acquisition of Scandza AS (“Scandza”) was signed 20 December 2013.
Following strong financial performance and organic growth as well as growth from acquisitions CapVest has now successfully completed a recapitalization of Scandza, which included additional senior debt commitments of NOK 667,600,000. The proceeds will partly be distributed to the shareholders and also enable further development of the Company. The Amendment and Restatement Agreement was signed 12 December 2014 with the following group of lenders:
- DNB Bank ASA (the Agent)
- Skandinaviska Enskilda Banken AB (publ)
- Bank of Ireland
- Societe Generale
London Branch DNB Markets acted as the Coordinator.
Scandza AS is a leading Nordic consumer business with a portfolio of marked leading brands in chilled foods, snacking and baked goods. Its portfolio includes Norway’s second largest potato chip producer Sorlandschips, the Danish branded biscuit and cakes business Bisca, and Synnove Finden, one of Norway’s leading diary brands. Scandza has experienced strong financial performance under the ownership of CapVest and has made several add-on acquisitions recently, including Findus Berries, Findsbraten and Broderna Nilsson.
Established in 1999, CapVest is a leading European mid-market private equity firm headquartered in London (UK). The Firm’s investment strategy is focused on identifying and managing investments in companies supplying essential goods and services. A patient investor, CapVest has established a strong record of success in delivering attractive returns by transforming the size and scale of its portfolio companies through a combination of organic and acquisition led growth.
Scandza AS / CapVest
London, 19 December 2014
Download:Scandza AS successfully closes recapitalization.pdf