Idinvest backs refinancing of Quadriga's Kinetics

According to a statement, the company intends to implement international expansion plans in the coming years. A source close to the situation told Unquote that the company's financing previously comprised facilities from local banks in the countries in which it operates – the refinancing is therefore intended to establish a less complex balance sheet, in addition to financing new projects and add-on acquisitions.

Quadriga acquired Kinetics Germany in August 2011. The GP subsequently acquired Kinetics Group's US operations. At the time, Quadriga was deploying equity via Quadriga Private Equity Fund III, which held a final close in March 2007 on €525m. The GP was on the road for its fourth flagship fund at the time; the vehicle held a final close in February 2013 on €529.1m

At the time of the investment, the company employed 650 people and reported revenues of €100m. The company now reports revenues of more than €300m and EBITDA of €20m, the source said.

Idinvest is currently making private debt investments via Private Debt Fund V, which held a first close in November 2019 on €200m, as reported by Unquote.

Company
Founded in 1973, Kinetics Group provides services and process equipment for the implementation of high-purity processes in industrial settings. The business serves industries including microelectronics, healthcare and biotechnology. The company operates in Europe, the US, the Middle East and Asia, employing 1,700 people across 22 offices, with its headquarters in Eschau, Germany. Kinetics generates around 50% of its sales in the US, with 40-45% coming from Europe and approximately 5% from markets in Asia.

People
Quadriga Capital – Jörg Mugrauer (partner).
Idinvest – Nicolas Nedelec (managing director).
Kinetics Group – Peter Maris (CEO).

Advisers
Debt – DLA Piper (legal).

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• Topics
• Refinancing
• DACH
• Industrials
• Germany
• Refinancing
• Quadriga Capital
• IDInvest Partners (AGF Private Equity)