From Beaufort to Bregal: proALPHA switches hands in LBO

By Olivier Holmey
29 Aug 2013

Germany’s proALPHA has issued €66m of loans to finance its acquisition by private equity firm Bregal Capital. The software provider was previously owned by its two founders Leo and Werner Ernst and by Beaufort Capital.

The drawn debt consists of a six year term loan ‘A’ and seven year term loan ‘B’, of €30.5m each. A six year €5m revolving credit facility completes the package.

The issuer’s senior leverage reaches 4.6 times as a result of the transaction, leads said.

SEB, the facility ...

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