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Allen & Overy advises syndicated lenders on successful refinancing of BARTEC Group

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Uebelhoer Walter
Dr Walter Uebelhoer

Partner

Munich

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03 March 2017

Allen & Overy LLP has advised the syndicated lenders and the agent, a subsidiary of Commerzbank Aktiengesellschaft, on the successful refinancing of the BARTEC Group. The world market leader in explosion protection based in Bad Mergentheim, Germany, came to an agreement with its lenders on the restructuring of the overall financing.

Under the agreement, the majority owner Charterhouse agreed to initially contribute additional capital to the company in the amount of EUR 50 million. The lenders will provide additional EUR 20 million. At the same time, the existing financing was extended to 2022.

Under the agreement, BARTEC will be provided with the financial basis which is necessary to implement a 5-year plan for optimising and reorganising the company. It is also a vote of confidence in the long-term growth prospects of the Group.

BARTEC produces components and systems for working around flammable substances (liquids, gases and dusts).  The customers of the Group include the oil and gas industry, chemical and petrochemical companies as well as the mining industry. With about 1,700 employees, the company operates production sites in Germany, Switzerland, Slovenia, Great Britain, Norway and China.

The Allen & Overy team comprised partners Dr. Walter Uebelhoer (lead) and Dr. Franz Bernhard Herding (both banking & finance / restructuring, Munich and Frankfurt), Matt Moore (both banking & finance, London), Carolyn Conner and Joel Ferguson (both restructuring, London), counsel Dr. Ilja Baudisch, associate Maximilian Mayer and Dr. Jörg Weber (all banking & finance, Munich).

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