Kartesia has announced it has arranged a €65 mln senior secured term loan to German real estate and financial brokerage company PlanetHome, to support the buy-out of a minority shareholder as well as the refinancing of existing liabilities.
The investment was made on behalf of the Kartesia Senior Opportunities I fund (KSO I),
PlanetHome 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 expanding operations to 600 employees and 80 locations, with a presence in two countries.
Kartesia said it 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. ‘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 company added.
Thomas Pöhler, director at Kartesia, commented: ‘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 prospects 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 businesses in Germany.’
Kartesia is an independent and privately-owned specialist provider of financing solutions focused on small and middle market companies across industries. Over the past ten years, the team has invested over €2 bn in over 126 companies across Europe. Kartesia has offices in Brussels, Frankfurt, London, Luxembourg, Madrid, Paris and Munich.