SPAIN - Quercus Equity closes Odeco refinancing on EUR 58.5m

The Madrid branch of IKB Deutsche was mandated as lead arranger to structure and underwrite the senior debt facilities, which will be used to refinance existing shareholder debt and fund a strategic growth plan through a series of acquisitions. IKB will launch a syndication at the end of the month, targetting Spanish credit institutions, with ticket sizes ranging from EUR 5m to EUR 10m.

Odeco Group, a Barcelona-based manufacturer of LED communication systems, was purchased by Quercus in May 2006, which has since implemented an ambitious expansion process through acquisitions realised in Germany and the US. The company expects to generate sales of EUR 65m and EBITDA of 12m in 2007, a 25% growth on 2006's figures.

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