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LPC-Advent's Ammeraal buyout backed with 300 mln euro loan
May 14, 2015 / 10:57 AM / 2 years ago

LPC-Advent's Ammeraal buyout backed with 300 mln euro loan

LONDON, May 14 (Reuters) - Private equity firm Advent International will back its acquisition of Dutch conveyor belts maker Ammeraal Beltech with around 300 million euros ($342.81 million) of leveraged loans, banking sources said on Thursday.

Advent announced it had agreed to acquire Ammeraal Beltech earlier this week from Dutch buyout group Gilde and Parcom Capital Management.

Advent agreed to buy the company for around 475 million euros, the sources said.

Jefferies is leading the debt financing, which totals around 300 million euros and will be launched for syndication to investors in mid-June, the banking sources said.

Advent was not immediately available to comment.

Ammeraal Beltech manufactures, distributes and services conveyor belts for industries including food processing, automotive, logistics and textiles. It has more than 25,000 customers in over 150 countries, through its nine production plants and over 80 service centres. ($1 = 0.8751 euros) (Editing by Christopher Mangham)

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