Kartesia in ProFagus debt replacement

The alternative lender provided a senior secured tranche to ProFagus as the business required additional capital to finance a capacity expansion of its natural additives business. It enabled part of the existing debt to be refinanced and one of the initial lenders to exit for strategic reasons. Kartesia took no equity as part of the deal.

Steadfast acquired the business from private investors in 2010 together with company management, in a sales process run by DC Advisory Partners. Debt was provided by DZ Bank, NIBC Bank and Commerzbank Group with a equity-debt ratio of 50:50.

Kartesia said it would be a mid-term partner for ProFagus, as the shareholders plan to exit soon after growth is achieved from the extra investment. Markus Geiger, who worked on the deal for Kartesia, was employed by Steadfast in 2010, where he was involved in the buyout of ProFagus.

Company
ProFagus primarily manufactures charcoal, but also sells derivative products such as smoke flavours and acetic acids – which are sold to the food and pharmaceutical industries – as well as fire lighters and fire wood.

At the production facility in Bodenfelde, Lower Saxony, the company produces around 25,000 tonnes of charcoal.

The company employs 120 people.

People
Kartesia – Markus Geiger (head of DACH region).
Steadfast Capital – Clemens Busch (managing partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Refinancing
• DACH
• Consumer
• Germany
• Steadfast Capital GmbH