Idinvest beats €250m for European senior debt fund


euro3_lrg1European private equity firm Idinvest Partners has trounced its €250m target by raking in €281m for its latest senior debt vehicle.

AltAssets reported in May that the firm had already collected €205m towards the fund, which will be used to finance senior acquisition debt incurred by unlisted European companies with solid fundamentals, moderate leverage and robust business models.

Those businesses would typically be SMEs already well positioned on their domestic market which had initiated an external growth strategy, it added.

Idinvest CEO Christophe Bavière said the fund had already carried out eight corporate financing transactions.

He said, “The fund has helped Averys, a leading French manufacturer of pallet racking and shelving production, to take control of its Belgian competitor Stow International while allowing Novacap, a chemical group which provides intermediate chemical products used into a large range of end-markets, to make a significant strategic acquisition in China.

“It has also facilitated the international development of ADB, the world leader in airfield ground lighting products, systems and equipment.”

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