Herter & Co. has acted as Sole Debt Advisor on the recapitalization of d&b audiotechnik („d&b“). d&b was acquired in 2016 by funds advised by Ardian from Odewald & Cie and COBEPA and is a company specialised on professional acoustic systems. The original transaction as well as the repricing and partial refinancing in 2017 were also advised by Herter & Co.
Herter & Co. coordinated the recapitalization via a roll-over of the existing debt and new money provided by existing and new lenders. The company’s continuing strong operating performance, a very positive outlook and excellent cash flow profile allowed for a re-leverage of the business.
„Herter & Co. led a competitive and efficient process that allowed a recapitalization of the business at attractive terms with an extended banking consortium“, said Fabian Wagener, Managing Director of the Mid Cap Buyout Team at Ardian.
Herter & Co. acted as Sole Debt Adviser to d&b.
d&b, which was founded in 1981 and is based in Backnang, Germany, is one of the world’s leading providers of professional premium audio technology. The company develops and produces high-quality sound systems for mobile and permanently installed applications. The spectrum of venues ranges from large stadiums and concert halls to theatres, opera houses, convention centres and cruise liners. With its systemic approach based on the interaction of amplifiers, speakers, accessories and interlinked software solutions, combined with dependable worldwide service and an exceptional training and support offering, d&b is uniquely positioned in the marketplace.
Ardian is a world-leading private investment house with assets of US$82bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 550 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 750 clients through five pillars of investment expertise: Direct Funds, Fund of Funds, Infrastructure, Real Estate and Private Debt.