Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, has completed ts fifth investment from the Kartesia Senior Opportunities I fund (KSO I), with the financing of PlanetHome Group.PlanetHome is a real estate and financial brokerage company in Germany and Austria. The company follows a unique B2B partnership strategy with leading financial institutions in the region and combines high quality real estate and financing brokerage services under one roof.
The company was founded over 30 years ago as part of HypoVereinsbank (now UniCredit Group) and was carved out in 2015 by a group of investors led by AP Capital Investments (APCI). Since then the company has developed strongly by significantly expanding operations to 600 employees and 80 locations and presence in two countries.
Kartesia has arranged a EUR65.0 million Senior Secured term loan to support the buy-out of a minority shareholder as well as the refinancing of existing liabilities. Kartesia was approached by the shareholder’s advisor DC Advisory in Frankfurt in a process that required strict confidentiality as well as speed of execution and transaction security, as we had in-depth knowledge of the company and the industry. Our financing package allowed APCI to take full control of the company by buying out the minority shareholder while at the same time refinancing existing indebtedness, that was due to mature in the coming months. The investment was led by Laurent Bouvier, Managing Partner; Thomas Poehler, Director; and Sebastian Afflerbach, Associate.
Thomas Pöhler, Director at Kartesia, says: “Since the carve-out in 2015, PlanetHome has significantly expanded its B2B partnership base and has demonstrated strong growth. The company’s strong track record combined with its strong future prospect from new B2B partners perfectly matches our investment criteria. We are delighted to support the business in the next chapter of its development and to foster its position as one of the leading brokerage business in Germany.
Bulend Corbacioglu, Founding Partner at ACPI, says: “We are very pleased to have found a financing partner like Kartesia, who have been able to provide a comprehensive financing package that perfectly fits the strategic and operational needs of the company”.
Daniel Gebler, Managing Director at DC Advisory, adds: “Kartesia’s knowledge of the company and the industry meant that they were able to act swiftly. They ultimately constructed a financing solution that addressed all the needs of our client allowing APCI to become the sole shareholder following an outstanding journey of growth and profitability improvements. The result also allows the company transition into the next chapter of its growth story. We are delighted to have worked with Kartesia on their second German investment from their senior loan fund.”