Herter & Co. advises automotive supplier Huf Hülsbeck & Fürst on its refinancing
Following the successful advisory mandate in 2021, Herter & Co. once again advised the automotive supplier Huf Hülsbeck & Fürst in Velbert (Huf) on the refinancing of its existing financing. The transaction volume amounts to more than €400m comprising revolving credit facilities, factoring programs as well as promissory note loans. The successful long-term refinancing provides for stability and gives the company scope to capture future growth in the coming years.
“We see the successful refinancing as evidence of the confidence of our investors in Huf’s reliably strong performance – especially in these challenging times. We are consistently pushing ahead with our transformation and reacting very flexibly to the volatile market environment. This enables us to withstand cost pressure and stay on track”, said CEO Tom Graf. “Herter & Co. managed the entire financing process and provided us with significant support during the negotiations. We are very satisfied with the result.”
The syndicated loan is provided by a consortium consisting of the existing bank group. A broad investor group of over 50 capital providers continues to provide the promissory note loans. The existing factoring program was expanded by acquiring additional partners.
The Huf Group is the leading specialist for secure vehicle access and authorization systems. Founded in 1908 by Ernst Hülsbeck and August Fürst in Velbert, the family-owned company now operates sites in Europe, America, and Asia. According to a study by Handelsblatt, Huf is one of the 20 most innovative companies in Germany. In the fiscal year 2022, Huf generated sales of more than 1 billion euros and employed 7,300 people globally.
Herter & Co. acted as Sole Debt Advisor to Huf.