German Capital backs ALNO AG
German Capital has backed the restructuring plan of its portfolio company ALNO. The company is planning to raise capital to aid its restructuring from both existing and new investors.
The restructuring contributions are expected to reach a total of €70m, including a capital increase of €26m.
German Capital acquired kitchen-fitting provider ALNO in 2007 from public and institutional shareholders and holds more than 45% of the company.
ALNO AG was founded in 1927 and is based in Dusseldorf. The company is a kitchen manufacturer and employs about 1,900 staff at its sites in Germany and Dubai.
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