Ontex has agreed to a financial restructuring which will see its private equity backer Candover inject more than EUR 50m into the business. Candover's stake is understood to rise to more than 80% following the restructuring. Merrill Lynch has reportedly agreed to underwrite a new debt package, that will pay off Barclays Capital, Ontex's senior lender, and the mezzanine note holders. Ontex is understood to have total debt of about €720m. Under the new debt facilities, the firms EBITDA ratio as a proportion of total debt is reported to be reduced from about 8 to 9 times, to less than 6.
Sponsor remains on the road for its eighth flagship fund amid turmoil at CEO-level, with fundraising lagging behind peers KKR and EQT
Sponsor has held a EUR 150m first close for its latest fund and will back Central European businesses with flexible capital
Lazard to advise on auction for Dutch cloud-based contact centre and dialogue-management platform
AEA and management have reinvested for a minority stake in the Danish logistics provider