Specialist lender Leumi ABL has completed a €101m refinancing package for Oxalis Logistics Group and Tank und Silo Group, two leading bulk transport providers owned by Munich-based private equity firm AUCTUS Capital Partners AG.
The facility is designed to support the continued growth and expansion of both businesses across Europe.
Following an initial approach from AUCTUS and several meetings in the UK and Munich, Leumi ABL structured a multi-jurisdiction asset-based lending solution combining a receivables facility with a multi-asset revolving credit facility.
The transaction reflects Leumi ABL’s ability to deliver complex cross-border finance packages against tight timescales.
John Walsh, regional sales director (Yorkshire and North East) at Leumi ABL, said: “The two groups of companies are market leaders in Germany and the UK for the last-mile logistics of mineral oils, transporting retail fuels, bulk gases, bitumen, aviation fuels and heating oils.
The management teams are incentivised to drive the group’s accelerating expansion plans whilst maintaining a commitment to commercial and operational excellence.
Leumi ABL are delighted to support AUCTUS and the two businesses as they drive further Pan-European organic growth and M&A activity via this flexible, multi-jurisdiction ABL facility.”
Niklas Janßen from AUCTUS said: “The team at Leumi ABL impressed with their flexible approach to finding financing solutions, leveraging their expertise across different product groups to form a multi-jurisdictional, tailor-made solution.
“AUCTUS would like to thank Leumi for supporting us in the next phase of growth, and for providing the framework for a partnership that will continue to evolve alongside the needs of the group and our M&A aspirations.”
Allan Davison from Oxalis said: “Over the past 12 months Oxalis has increased both its turnover and profitability, whilst maintaining exceptionally high standards of service performance.
“This refinancing package provides a further enabler to meet our long-term strategic growth objectives, increasing our market share across all business segments and providing increased flexibility and value to our customers.”
Richard Krüger from Tank und Silo added: “This refinancing marks an important step into the future for Tank und Silo.
“It enables us to pursue our ambitious growth plans, expand our market presence in Germany and beyond, and at the same time strengthen our high standards of safety and reliability.
“Together with our partners AUCTUS and Leumi, we aim to actively shape the dynamics of our industry and continue to provide our customers with industry leading solutions.”
Leumi ABL was advised by Squire Patton Boggs, with receivables and collateral due diligence completed by Hilco Valuation Services.
This story was first published on our sister title The Haulier.
