21 Jun Expansion of financing Hiltermann Lease Group
Hiltermann Lease Group has entered into an agreement with a bank consortium to extend their credit agreement. This allows the company to accelerate its growth trajectory through doubling of their fleet.
Axeco Corporate Finance is pleased to have advised Hiltermann Lease Group
Hiltermann Lease Groep, the holding company above Strix Lease Service, Auto Lease Company and The Lease Factory, has expanded its refinancing to EUR 287.5 million. The banking consortium that previously had a credit agreement with Hiltermann Lease Groep has concluded a new agreement and increased the existing financing of EUR 220 million by EUR 67.5 million. HSBC has also joined this consortium.
With the new credit facility, Hiltermann Lease Groep wants to further finance the stormy growth. While the market grew by approximately six percent in the past year, the growth at the lease company was no less than 35 percent. “Our personal approach, the various propositions in operational, financial and equipment lease, and our loyal customer base have resulted in particularly strong growth in recent years,” says Norbert Karthaus, director of Hiltermann Lease Group. The organization currently manages approximately 20,000 lease contracts. Hiltermann Lease Groep has the ambition to grow the number of lease contracts to 32,000 by 2020. This growth ambition has been secured with the new credit facility.
Confidence in multi-year plan
The credit agreement is facilitated by ABN AMRO, ING, NIBC, Rabobank and HSBC. AXECO Corporate Finance and JanssenBroekhuysen Advocaten provided the lease company with financial and legal advice, respectively. In addition to financing EUR 287.5 million, the banking consortium has also offered an option for another EUR 75 million via a so-called accordion facility. Karthaus: “This shows great confidence from the banks. They have seen what we have achieved in recent years and they value our ambition for the coming years.”
About Hiltermann Lease Group
Hiltermann Lease Groep is a leasing company focused on small and medium-sized enterprises in the Netherlands, which manages a portfolio of more than 20,000 lease contracts, which means that it can rank among the top 10 leasing companies in the Netherlands. Hiltermann Lease Groep was founded in 2004 and is headquartered in Hoofddorp. The company has three distinctive subsidiaries, each with its own focus. Strix Lease Service focuses on operational lease and rental, while Auto Lease Company focuses on financial and private leasing of passenger cars, (mini) vans and (light) commercial vehicles.
The Lease Factory focuses on financial and operational leasing of business assets.