Global menu

Our global pages

Close

Eversheds Sutherland advises Siemens Bank on the re-financing to support H.I.G. Capital’s strongly growing portfolio company PLIXXENT

  • Germany

    23-12-2021

     

    Eversheds Sutherland has advised Siemens Bank as super senior lender on the re-financing to support the growth trajectory of H.I.G. Capital’s portfolio company PLIXXENT Holding GmbH. The transaction will further strengthen PLIXXENT’s successful pan-European expansion strategy in a fragmented market. H.I.G., a leading global alternative investment firm and majority-owner of the company, supports PLIXXENT in further growing its position as a leading independent and innovative polyurethane (PUR) systems business in Europe.

    PLIXXENT was formed in a carve-out transaction from listed Covestro AG 2019. Following two acquisitions, PLIXXENT operates six production sites in Germany, the Netherlands, Denmark, UK, Italy and Spain and supports its diverse and international customer base in specification, design, development, logistics and aftersales support. Its polyurethane systems are used in both, flexible and rigid foam applications across a variety of industries including energy, insulation, footwear, appliances, construction, furniture and transportation.

    Siemens Bank was established in 2010 as a wholly owned subsidiary of Siemens AG. As an independent institution which profits from its integration into the technology company’s Financial Services unit, the bank’s clients primarily include corporate customers, project companies and public-sector debtors. In its lending activities, the bank primarily offers mid- and long-term financing. Siemens Bank is headquartered in Munich and currently operates branches in London and Singapore to serve customers worldwide.

    The Eversheds Sutherland team in Munich which advised on the transaction was led by partner Dr. Thomas Freund and included associate Tiziana Daxenberger and Professional Support Lawyer Teresa Feistle-Bertsch (all Finance).

     

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

    < Go back