Alliance Automotive Group, with the support of its shareholder Weinberg Capital Partners, has issued a EUR185m private bond.
The financing was arranged by Goldman Sachs and was syndicated to a small group of institutional investors.
The seven-year bond with bullet repayment, provides the group with the financial flexibility to continue its long-term investment strategy and in particular enables it to apply its free cash flow to fund external growth.
Alliance Automotive Group has completed 22 acquisitions over the last seven years, including two major transactions in France in 2013 with the result that revenues have increased from EUR540m in 2006 to EUR1.2bn in 2013.
The private bond will enable the group to reinforce its leading position in the independent automotive aftermarket, both in France and in the UK, while ensuring its participation in the continued consolidation of a fragmented European market.
