Pemberton, a European private debt manager transforming traditional credit markets, backed by one of Europe’s largest insurers, Legal & General Group PLC, has provided facilities to support the full refinancing of Elatec, a technology company providing global RFID technology solutions, backed by private equity firm Summit Partners.
Elatec is a leading global provider of highly-configurable RFID (radio frequency identification) technology solutions used in a variety of end-markets and industry applications, including printing, physical access control, computing, manufacturing and the Internet of Things (IoT). The company designs and manufactures both contact (SmartCard) and close proximity contactless (NFC, RFID, Bluetooth) readers/writers that enable work optimisation, workforce management, compliance and security.
The financing provides flexibility for the continuation of Elatec’s strategy to target growth industries, in which flexible and secure credential management systems are growing in importance. Pemberton is also providing a committed acquisition facility to support future strategic add-on acquisitions.
Pemberton supported the refinancing through its Mid-Market Debt strategy.
“We have been a lender to Elatec for some years and value its long-established market position in RFID reader/writer technology, as well as its strong cash generation. We’re pleased to continue supporting Elatec’s future growth,” says Jürgen Breuer, Head of DACH at Pemberton.
“We are bullish about the outlook for Elatec as it expands its portfolio of RFID solutions and related software and services,” says Steffan Peyer, Managing Director at Summit Partners. “We highly appreciate the reliability of Pemberton as our sole financier and their continued support for our strategy.”