Herter & Co. advises d&b audiotechnik on the refinancing and repricing of existing LBO facilities

Herter & Co. has advised d&b audiotechnik („d&b“) on the partial refinancing and repricing of its existing LBO facilities. 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 was also advised by Herter & Co.

Herter & Co. coordinated the refinancing of the junior debt via additional senior bank debt which was provided by the existing banking syndicate. On the back of the company’s strong operating performance and deleveraging since the acquisition, a competitive financing process could be orchestrated which ensured the necessary additional financing liquidity and allowed for a significant interest cost reduction across the facilities as well as further documentary amendments. The total financing package remained above €100m.

„After the successfully executed financing process for our acquisition in 2016, Herter & Co. has again been very helpful in establishing an even more attractive financing structure “, 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, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$60bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, has always placed entrepreneurial spirit at the heart of its approach and offers its international investors investment performance while participating in the growth of companies around the world. Ardian’s investment philosophy is based on three pillars: excellence, loyalty and entrepreneurship. Ardian relies on a solid international network, with more than 450 employees working in twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey and Luxembourg. The company offers its 580 investors a diversified selection of funds covering the enitre asset class with Ardian Buyout (including Ardian Mid Cap Buyout Europe & North America, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Fund of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.

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