Investec Growth & Acquisition Finance has supported the acquisition of SafeChem Europe by CBPE Capital, a London-based mid-market private equity investor.
Investec provided EUR20 million of senior secured debt as well as a EUR2 million revolving credit facility to support the management team and the company’s growth.
Founded in 1992, SafeChem Europe is a pan-European provider of services and products related to the safe and sustainable use of solvents for surface and dry cleaning. Formerly a subsidiary of The Dow Chemical Company, the German-based company’s applications are primarily used the automotive, aerospace and measuring instrument sectors, as well as in the medical instrument and optical technology industries.
This deal represents Investec’s third transaction with CBPE Capital, which has extensive experience in the chemical sector, having invested in five chemical companies over the last 10 years. This transaction also represents the fourth investment across Investec’s corporate lending practice in a German-based chemicals company.
Shaun Mullin, of Investec Growth & Acquisition Finance, says: “Investec’s flexible approach and understanding of the sector, having invested in chemical businesses previously, meant that we were perfectly positioned to support CBPE Capital on this deal. Our funding structures are ideally suited to backing mid-market companies that have a long-term plan for growth and we look forward to working with the company and CBPE Capital, with whom we have a long-standing relationship.”
Matthew Hutchinson, partner at CBPE Capital, says: “Investec’s proven track record in the sector and its ability to deliver certainty of financing to meet a demanding transaction timeline made them the ideal partner for us. We look forward to working with the Investec team on SafeChem and future deals.”
