
3i’s Amor completes €103m refinancing
Germany-based Amor, backed by 3i, has amended and extended its existing debt facilities in a €103.1m refinancing.
The fresh layer of senior debt will be used to repay shareholder loans and capital reserves. The transaction sees £21m returned to 3i, and Amor's gearing significantly reduced.
The refinancing was led by Amor's existing lenders IKB and Commerzbank.
Previous investment
3i acquired Amor in a secondary buyout from Pamplona Capital in December 2010. Debt for the deal was provided by IKB Deutsche Industriebank.
Since 3i's acquisition, Amor has increased its EBITDA by 30%. The company expanded across Europe and established a presence in the US, the Middle East and Australia.
Company
Established in 1978, Amor distributes affordable precious jewellery. The business operates from a hub in Obertshausen, near Frankfurt, Germany, and sells its products through 1,400 points of sale in 12 countries.
People
Peter Wirtz is partner and managing director of 3i Germany.
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