Return to search

Advent’s Ammeraal buyout backed with 300 mln euro loan

Advent announced it had agreed to acquire Ammeraal Beltech earlier this week from Dutch buyout group Gilde and Parcom Capital Management.

Advent agreed to buy the company for around 475 million euros, the sources said.

Jefferies is leading the debt financing, which totals around 300 million euros and will be launched for syndication to investors in mid-June, the banking sources said.

Advent was not immediately available to comment.

Ammeraal Beltech manufactures, distributes and services conveyor belts for industries including food processing, automotive, logistics and textiles. It has more than 25,000 customers in over 150 countries, through its nine production plants and over 80 service centres.

($1 = 0.8751 euros)

(Editing by Christopher Mangham)