Pemberton arranges refinancing for Capvis-backed Ondal

Approximately 20% of the €1.2bn vehicle is now deployed in Germany, according to a press release. Pemberton aims to provide further facilities to Ondal in the future to finance bolt-on acquisitions.

Capvis originally acquired Ondal from German investment company Findos in an LBO in 2012. The original debt package was provided by Unicredit, Commerzbank, KBC Bank Deutschland, Raiffeisen Bank International and Unicredit Luzembourg.

Capvis used capital from its third fund to finance the original transaction. The company had a turnover of €73m and employed 500 people at the time of the acquisition. It now employs around 450 staff and recorded revenues of €70.8m in the year ending June 2015, down from €74.1m the year before, according to unquote" sister publication Debtwire. Its EBIT was flat at €300,000 in the year ending June 2015.

Ondal is headquartered in Hünfeld, Germany, and manufactures pendant systems for use in operating theatres and ICUs. The company claims its products are used in 70% of hospitals worldwide.

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• Topics
• Refinancing
• DACH
• Healthcare
• Germany
• Capvis AG
• Senior debt