Kingsbridge injects EUR30m into Kunert AG
Kingsbridge Capital has changed the capital structure of listed portfolio company Kunert AG with the investor forgoing existing loan claims and betterment rights. The company will also issue new shares to increase liquidity and the remaining loan claims will be extended until the end of 2010. With this, Kingsbridge is providing Kunert with EUR30m.
Kunert, based in Immenstadt, manufactures socks and stockings and employs more than 1,000 people. The company produces both in Germany and Marocco. Kingsbridge is the private equity arm of Hardt Group, an alternative assets investment firm.
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