Ergon's Nicotra-Gebhardt secures €115m refinancing

The refinancing was organised by mandated lead arrangers GE Capital and Ares Management. This is the latest transaction from the duo's €1.75bn European Senior Secured Loan Programme joint venture, aimed specifically at providing unitranche funding.

Belgian private equity house Ergon acquired a 50% stake in Nicotra-Gehardt for approximately €80m in January 2008 from Fondo Interbancario d'Investimento Azionario.

Company
Nicotra-Gehardt, headquartered in Bergamo, Italy, manufactures fans for commercial buildings and industrial process ventilation. The company employs 900 people across its R&D and productions sites in Italy, Germany, Middle East, India, China, Thailand and Malaysia.

Founded in 1963 and headquartered in Monza, Italy, Industrie CBI retails industrial and heavy-duty fans for the oil and gas, infrastructure, energy and steel and cement industries. The company has production facilities in Italy, Belgium and India, and employs around 200 people.

People
Nicola Zambon is partner at Ergon and non-executive director at Nicotra-Gebhardt.

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• Topics
• Southern Europe
• Portfolio management
• Industrials
• Ergon Capital Partners
• Italy
• Refinancing