August 9, 2024

Indoor air solutions firm Purmo Group (publ.) enters a loan agreement with Apollo Global and Rettig

Kauppalehti
Finnish indoor air solution company Purmo Group's board has entered into a loan agreement with Project Grand BidCo, the consortium set to acquire Purmo, comprising Apollo Global Management and Rettig. Under the agreement, Purmo will have access to a loan of up to EUR 300m, which will be used primarily to refinance the company's existing debts and for working capital and general financing requirements. Purmo plans to use the loan to prepay current syndicated term loans and revolving credit loans amounting to about EUR 290m. The refinancing is directly linked to the change in Purmo's ownership and management that follows the implementation of Grand BidCo's voluntary public cash bid. Purmo Group reported revenues of EUR 710.5m and an adj. EBITDA of EUR 89.9m in H1-2024 (LTM).
Transaction announcement
Originally surfaced by NKP | M&A Insights as:
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May 3, 2021

The sale process of Rettig-owned Purmo is restarted - first bids due next month

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
July 10, 2020

Brand transformation and management changes indicates that family office Rettig may, again, try to exit Purmo Group - UBS and SEB has been mandated

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)

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