HIG WhiteHorse, a credit affiliate of global investment firm HIG Capital (“HIG”), has arranged a refinancing package for Kermel (the “Company”), which also includes a growth capital component.
Kermel is a technical fibre manufacturer for flame and heat resistant clothing. The Company manufactures polyamide-imide fibres for garments dedicated to personal protection that demonstrate exceptional resistance to heat, fire and abrasion in extreme circumstances.
HIG WhiteHorse has committed EUR73 million of unitranche and capex facilities to refinance the borrower’s existing indebtedness and provide additional capital to finance the Company’s growth. Kermel has plans to increase its production capacity in the coming years to support new client wins and ongoing demand.
Pascal Meysson, Head of Europe at HIG WhiteHorse, says: “We are thrilled to support Kermel’s growth by providing flexible capital that allows its management team to realise the Company’s expansion plans. This transaction highlights HIG WhiteHorse’s ability to support the strategic development of its clients by establishing tailored solutions for their financing needs.”
