Tikehau IM, a subsidiary of Tikehau Capital, has arranged a EUR14.4 million add-on Unitranche to support Terratest’s acquisition of Geostructures, a US-based provider of ground improvement services for commercial, residential and institutional construction.
Founded in 1959 in Spain and majority owned by Platinum Equity since 2014, Terratest is a leading international provider of foundation work, ground improvement and micro-tunnelling services for large-scale international infrastructure projects, industrial, commercial and residential construction.
In May 2017, Tikehau led the refinancing of Terratest with a EUR60 million Unitranche. This transaction is another illustration of Tikehau IM’s expertise to offer private debt financing solutions to companies in Spain.
Enrique Torres, CEO of Terratest, says: “This strategic acquisition gives us access to a key market in North America and consolidates our growth plan. We are grateful to have a partner in Tikehau, who has been instrumental in supporting this next step.”
Carmen Alonso, Head of Iberia at Tikehau IM, says: “We are pleased to continue being part of the development of Terratest and facilitating such an important milestone for the company. This financing is fully aligned with Tikehau’s strategy of continuously supporting the growth of the companies in which we invest.”
