IKB hooks up Westfalia takeover
IKB has arranged the senior debt package supporting Parcom Deutsche’s takeover of tow-bar producer Westfalia. Syndication of the loans is to launch shortly.
The enterprise value is understood to be around Eu120m, with debt financing below Eu100m.
"The company was resilient during the credit crisis, and has learnt to negotiate fluctuations in steel prices well," said one market participant familiar with the deal.Parcom has acquired Westfalia from Odewald and WestLB. The ...