IGM Resins raises funds to support business expansions

9 November 2015 (Last Updated November 9th, 2015 18:30)

H.I.G. WhiteHorse, a subsidiary under global investment firm H.I.G. Capital, has arranged a €25m unitranche loan for IGM Resins.

H.I.G. WhiteHorse, a subsidiary under global investment firm H.I.G. Capital, has arranged a €25m unitranche loan for IGM Resins.

Netherlands-based IGM Resins is an international provider of specialist chemicals and technical services for the inks and coatings industries.

Arsenal Capital is the majority owner for IGM Resins, which operates across Europe, the US, China and Brazil.

"This transaction provides IGM Resins with the flexibility to integrate its latest acquisition and build on its current market position."

The capital has been used by the company to refinance an equity capital bridge facility, which was invested to support its strategic acquisition in Italy.

IGM Resins president John Huiberts said: "This transaction provides IGM Resins with the flexibility to integrate its latest acquisition and build on its current market position.

"H.I.G. WhiteHorse has been supportive and demonstrated a high degree of flexibility and pragmatism in providing us with a solution that suited our requirements."

The financing has been offered under a flexible financing structure, which joins with H.I.G. WhiteHorse's existing local asset based lending facilities.

H.I.G. WhiteHorse managing director Haseeb Aziz said: "This transaction demonstrates H.I.G. WhiteHorse's ability to tailor a bespoke, flexible and deliverable debt package, which works well for a broad range of stakeholders, including existing asset-based lending facilities.

"With its strong balance sheet, and a more efficient capital structure, IGM Resins is now well-placed to exploit potential growth opportunities and we look forward to supporting its future success."