Terras Secures Bespoke Refinancing for Continued Growth
Deal News | Nov 17, 2024 | Apera Asset Management LLP
Apera Asset Management LLP, a pan-European mid-market private debt investor, together with Oldenburgische Landesbank, announced the successful arrangement of bespoke debt facilities for Terras Holding GmbH. This refinancing aims to strengthen Terras' financial position and support its buy-and-build strategy under the guidance of AUCTUS Capital Partners AG. The financing includes a Unitranche Loan combined with Acquisition and RCF Facilities. Terras, headquartered in Montabaur, Germany, focuses on civil engineering projects, particularly renovation efforts in infrastructure. With over 650 FTEs, the group works predominantly with public sector clients in sectors like transport, sewage, energy, and digitalisation. The platform has grown through strategic acquisitions. Apera, having worked previously with AUCTUS, is committed to supporting Terras' further organic and acquisitive growth.
Sectors
- Private Debt Investment
- Civil Engineering
- Infrastructure
Geography
- Germany – Terras is headquartered in Montabaur, Germany, and the Group focuses on regional projects within the country.
- Pan-European – Apera Asset Management operates across the UK, DACH region, Nordic region, France, and Benelux, showing a broad European presence in its operations.
Industry
- Private Debt Investment – The industry involved in the creation and management of bespoke debt facilities for companies, aiding in growth and refinancing strategies.
- Civil Engineering – Terras operates within the civil engineering sector, focusing on infrastructure renovation projects across Germany.
- Infrastructure – The focus on tackling the growing backlog of aging infrastructure in sectors like transport, sewage, energy, and digitalization aligns with this classification.
Financials
- Undisclosed – The exact financial terms of the debt facilities provided to Terras by Apera and OLB were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Terras Holding GmbH | Target Company | Company | A platform of civil engineering companies focusing on infrastructure projects in Germany. |
| Apera Asset Management LLP | Debt Provider | Company | A leading pan-European mid-market private debt investor involved in arranging the debt facilities for Terras. |
| Oldenburgische Landesbank | Debt Provider | Company | A partner with Apera in providing the financing for Terras. |
| AUCTUS Capital Partners AG | Advisor | Company | An advisory firm for funds that own Terras, overseeing the Group's growth strategy. |
| Christian Letschert | CFO | Person | Chief Financial Officer at Terras, overseeing the refinancing process. |
| Dr. Daniel Meuthen | Partner | Person | Partner at AUCTUS, involved in strategic growth of Terras. |
| Marvin Aurnhammer | Investment Manager | Person | Investment Manager at AUCTUS, contributing to the strategic objectives for Terras. |
| Eva Halbritter | Partner | Person | Partner at Apera, involved in the transaction with Terras and AUCTUS. |