21 May Accell Group announced the refinancing (EUR 375 million) on syndicated credit facility
Accell Group reached agreement with a syndicate of six banks on a renewed group financing facility. This agreement offers greater flexibility at better terms for the company.
Axeco Corporate Finance is pleased to have advised the management team of Accell Group
Accell Group reached agreement with a syndicate of six (international) banks on a renewed group financing facility to replace / extend the existing facility. The new financing for a total of € 375 million (with an option for an additional sum of € 150 million for future acquisitions) offers greater flexibility at better terms and has a term of maximum five years with a possible extension of two years. The financing facility comprises a term loan and revolving credit facility, part of which is structured as a seasonal facility. The covenants are based on results (term loan/EBITDA), working capital (borrowing reference) and solvency.
About Accell Group
Accell Group NV focuses internationally on the mid-range and higher segments of the market for bicycles and bicycle parts and accessories. The company has leading positions in the Netherlands, Belgium, Germany, Italy, France, Finland, Turkey, the United Kingdom and the United States. In Europe, Accell Group is market leader in the bicycle market measured in turnover. Accell Group’s best known brands are Haibike (Germany), Winora (Germany), Batavus (Netherlands), Sparta (Netherlands), Koga (Netherlands), Lapierre (France), Ghost (Germany), Raleigh and Diamondback (UK, US, Canada), Tunturi (Finland), Atala (Italy), Redline (US), Loekie (Netherlands) and XLC (international). Accell Group and its subsidiaries employ approximately 3,000 people in eighteen countries worldwide. The company has production facilities in the Netherlands, Germany, France, Hungary, Turkey and China. Accell Group products are sold in more than seventy countries. The company’s head office is located in Heerenveen (the Netherlands). Accell Group shares are traded on the official market of Euronext Amsterdam and are included in the Amsterdam Small Cap index (AScX). In 2017, Accell Group sold around 1.3 million bicycles and recorded turnover of over € 1 billion.
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