TCR Capital refinances Locatel

Just nine months after backing the company's secondary buyout, TCR Capital has refinanced hotels and hospitals multimedia systems business Locatel with Landsbanki.

The agreement allowed for two-thirds of the mezzanine to be refinanced, and for a increase of the capex facility from EUR25m to EUR45m. No value has been returned to TCR's LPs, and the company's ownership has not changed post-recap. The refinancing will help accelerate the company's growth, following the recent openings of subsidiaries in the UK and Dubai, as well as the stronger-than-expected demand for the company's in-house developed solutions. Strategic acquisitions and other opportunities in Norway, Italy and Spain are also being examined. TCR Capital, Synergie Finance and 123Venture backed Locatel's secondary buyout in January 2007. Platina Finance supported a EUR9m buyout in 2004.

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

• Topics
• Industry
• France