Thomas-Krenn Secures Growth Financing from Patrimonium
Deal News | Dec 19, 2024 | Zurmont Management AG
Patrimonium Middle Market Debt Fund, a private credit vehicle within Patrimonium Asset Management AG, has extended growth financing to Thomas-Krenn.AG, a prominent German manufacturer of server and storage systems. The move aims to support the expansion and development of Thomas-Krenn's operations, particularly as it undertakes a venture to launch over 15 environmentally compliant data centers across Europe. Owned by VM Capital GmbH, Thomas-Krenn serves a wide array of clients including SMEs, large corporations, and public institutions, and has grown from a small online startup to a key player in the European tech sector. The financing from Patrimonium will bolster Thomas-Krenn’s production capabilities and facilitate the expedient delivery of its data center projects. This strategic financial maneuver is not only pivotal for Thomas-Krenn’s growth and operational escalation but also reflects Patrimonium's commitment to providing tailored financing solutions to mid-market players, with an emphasis on ESG considerations. Patrimonium was advised by Ashurst LLP, while VM Capital GmbH was advised by Carlsquare Ltd. and Gtt Olk Feldhaus LLP.
Sectors
- Technology - IT Services & Hardware
- Finance - Private Credit
Geography
- Germany – Thomas-Krenn.AG is a leading German manufacturer engaged in the European tech markets.
- Europe – Thomas-Krenn's initiative involves launching 15 data centers across Europe, indicating a broader geographical significance.
Industry
- Technology - IT Services & Hardware – The article focuses on Thomas-Krenn.AG, a manufacturer of server and storage systems, emphasizing their technological undertakings and IT infrastructure solutions.
- Finance - Private Credit – Patrimonium Middle Market Debt Fund, part of Patrimonium Asset Management AG, provides private credit financing to mid-market companies like Thomas-Krenn.AG.
Financials
- Not Disclosed – The exact amount of the growth financing provided by Patrimonium was not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Thomas-Krenn.AG | Target Company | Company | A leading German manufacturer and provider of customized server and storage systems. |
| Patrimonium Asset Management AG | Financier | Company | A private credit fund focused on middle market companies providing financing to Thomas-Krenn.AG. |
| VM Capital GmbH | Owner | Company | The single-family office currently owning Thomas-Krenn.AG and focusing on growth-intensive investments. |
| Ashurst LLP | Legal Advisor to Patrimonium | Company | Provided legal advisory services for Patrimonium on this transaction. |
| Carlsquare Ltd. | Financial Advisor to VMC | Company | Advised VM Capital GmbH on the transaction. |
| Gtt Olk Feldhaus LLP | Legal Advisor to VMC | Company | Provided legal advisory services to VM Capital GmbH. |