Patrimonium Urban Opportunity Ltd increases net operating income and portfolio valuations in the first half of 2024 Read more
Patrimonium Foundation carries out capital increases in autumn 2024 Read more
Patrimonium Swiss Real Estate Fund: attractive transactions in the first half of the year Read more

Corporate News

Private Credit: Patrimonium provides acquisition financing to Bencis for the acquisition of Heytex

17.03.23

Patrimonium provides acquisition financing to Bencis for the acquisition of Heytex Group

Patrimonium Middle Market Debt Fund, a private debt fund of Patrimonium Asset Management AG (“Patrimonium”) focused on middle market companies, has provided financing to Bencis for the acquisition of Heytex Group (“Heytex”).

Heytex, with headquarters in Bramsche, Lower Saxony and subsidiaries in Ebersbach-Neugersdorf (Saxony), Nijverdal (Netherlands), Zhangjiagang in the People’s Republic of China (Jiangsu Province) near Shanghai, as well as Pulaski (Virginia), USA, is one of the world’s leading manufacturers of laminated and coated technical textiles with over 550 employees.

At the Bramsche site, significant investments have been made in machinery, equipment and infrastructure in recent years. Likewise, the USA and China sites have been equipped with modern and efficient coating lines.

This enables Heytex, as the only supplier in this industry with production sites on three continents, to react in the best possible way to the technical and regional challenges of its customers.

Raphael Weller, Managing Director at Bencis : “Heytex has developed very successfully over the past years and we are pleased to continue the growth path together with the management. For this purpose, financing partners have been found in Patrimonium and Sparkasse Osnabrück, who have provided a financial structure with sufficient flexibility for the company’s further growth.”

Hans-Dieter Kohake, CEO of Heytex added: ” As a management team, we very much welcome the opportunity to continuously shape the future of Heytex with strong partners at our side. With Bencis and Patrimonium, we continue to see ourselves as very well positioned to sustain success in meeting the challenges in the market. We look forward to working together.”

Moritz Frerker, Senior Director Patrimonium Private Credit: “Heytex has shown positive growth and resilience over the past years as a leading provider in a challenging environment. We are pleased to be able to support Bencis and the management in the implementation of the growth plans as well as the further development of Heytex with a flexible financing package.”

Bencis is an independent investment company founded in 1999 by Zoran van Gessel and Jeroen Pit and has invested through six funds with total equity of EUR 2.2 billion. Bencis’ EUR 575 million Fond VI is being invested since 2021. The Bencis team consists of 32 professionals based in Düsseldorf, Amsterdam and Brussels. Currently, the Bencis portfolio comprises 31 companies with a combined turnover of around EUR 1.8 billion and 9,500 employees.

Patrimonium is an independent Swiss asset and fund management company in the field of private market investments, regulated by the Swiss Financial Market Supervisory Authority (FINMA). Patrimonium is characterised by a direct and responsible investment approach in the asset classes real estate, private debt, private equity and infrastructure. Patrimonium manages assets of CHF 4.2 billion (as of December 2022). With offices in Lausanne, Zurich and Zug, the firm employs over 70 people.

Patrimonium was advised on the transaction by Ashurst (Dr Tobias Krug and Sabrina Bremer). Bencis was advised by Allen & Overy (Thomas Neubaum and Dr Rauni Ahammer) and Clearwater International (Dr Heinrich Kerstien and Khalid Afras), among others.

News Photo

Your investor profile

Qualified Investors

Important legal information

By accessing the website of Patrimonium Asset Management AG (“Patrimonium”) or any affiliated company mentioned on its website (the “Website”), you confirm that you have understood and agreed with the legal terms and conditions of the Website. If you do not agree with the terms and conditions, you must not access the Website. The Website contains information relating to a large number of financial instruments that are registered and managed in various jurisdictions. We therefore ask that you indicate your place of domicile before accessing any information about these instruments. Private investors’ access to any such information will be limited to the financial instruments authorised for sale to private investors in their country of domicile.

Local legal restrictions

None of the financial instruments referred to on the Website will be made available, nor will the corresponding prospectuses be distributed to persons residing in any country, state or jurisdiction where the marketing of such financial instruments would be contradictory to local law or regulation. Persons to whom such restrictions apply must not access the Website. Website users are responsible for ensuring that they are legally entitled to access the Website. Only the prospectuses, annual reports of the financial instruments and eventually the key information document(s) contain the information and specific details that may be required by the regulators of individual jurisdictions. None of the financial instruments listed on the Website is or will be registered in the United States of America under the 1933 Securities Act as amended. Therefore, none of them is intended to be offered, either directly or indirectly, in the United States of America (including its territories and colonies), to nationals and persons domiciled in the United States of America, to persons normally domiciled in the United States of America or to persons for the benefit of or in favour of US nationals (as defined in Regulation S of the 1933 Securities Act). Persons to whom such restrictions apply must not access the Website.

Intellectual property and copyright

Unless indicated otherwise, Patrimonium is the owner or holder of all rights associated with and components of the Website, including its data, charts and drawings. Any total or partial reproduction, representation, distribution or redistribution of the content of the Website through any process whatsoever without the prior written consent of Patrimonium is prohibited. The whole content of the Website is subject to copyright (all rights reserved). Patrimonium is a national and international registered trademark. Using the Website does not grant users any rights regarding its content, software, registered trademarks or any other element of the Website. Any reproduction or utilization of the Website or Patrimonium’s logo without the prior written consent of Patrimonium is prohibited.

No offer

The information and opinions disclosed on the Website constitute neither an invitation nor an offer to make or liquidate an investment, nor an invitation nor an offer to perform any other transaction. The information and opinions provided on the Website do not constitute recommendations or guidance for decisions concerning any investments and other matters and are not intended as advice in any way. Any investment decision must be based on an analysis of the associated risks (including but not limited to any legal, regulatory, tax or other consequences) as well as on the relevant, specific advice of an independent professional. The information provided is neither investment advice nor otherwise based on a consideration of the personal circumstances of the addressee nor is it the result of objective or independent research.
Investors should contact a qualified tax advisor for information about the possible tax-related consequences of holding, purchasing or selling shares in companies, funds or other investment vehicles.

Investment funds

The information about Patrimonium services and products given on the Website is not intended for any persons residing in a country or jurisdiction where access to such information or the publication of such information is forbidden by law.

For the Patrimonium Swiss Real Estate Fund – a Swiss collective investment scheme organised as a contractual fund under Swiss law – its fund contract, prospectus, key information document and latest interim and annual reports can be obtained free of charge and upon request from the fund management company and from the fund distributor(s).

For the Patrimonium Middle Market Debt Fund – a collective investment scheme organised under Luxembourg law and restricted to qualified investors – its prospectus, key information document (if applicable) and latest interim and annual reports can be obtained free of charge and upon request from the fund management company, the fund distributors or the fund representative in Switzerland. This Swiss representative is the Geneva office of Acolin Fund Services AG, located at Cours de Rive 6, 1204 Geneva, Switzerland. The fund’s paying agent in Switzerland is Banque Cantonale de Genève, located at 17 Quai de l’Ile, 1208 Geneva, Switzerland.

For the Private Credit Co-Investor Fund – a collective investment scheme organised under Luxembourg law and restricted to qualified investors – its prospectus, key information document (if applicable) and latest interim and annual reports can be obtained free of charge and upon request from the fund management company, the fund distributors or the fund representative in Switzerland. This Swiss representative is Credit Suisse Funds AG, located at Uetlibergstrasse 231, 8045 Zurich, Switzerland. The fund’s paying agent in Switzerland is Credit Suisse (Schweiz) AG, located at Paradeplatz 8, 8001 Zurich, Switzerland.

For the Patrimonium Private Equity Fund – a special limited partnership organised under Luxembourg law and restricted to qualified investors – its prospectus, key information document (if applicable) and latest interim and annual reports can be obtained free of charge and upon request from the fund management company, the fund distributors or the fund’s representative in Switzerland. This Swiss representative is the Geneva office of Acolin Fund Services AG, located at Cours de Rive 6, 1204 Geneva, Switzerland. The fund’s paying agent in Switzerland is Banque Cantonale de Genève, located at 17 Quai de l’Ile, 1208 Geneva, Switzerland.

No guarantee

The information and opinions disseminated on the Website are based on public information, data developed internally and other reputedly reliable sources. Patrimonium is as diligent as possible in compiling and updating the information on the Website. However, Patrimonium and its contractual partners do not furnish any guarantee (including liability towards third parties) with regards to the correctness, updating and completeness of the information and opinions disclosed on the Website.

The content of the Website is likely to be modified at any time and without notice. Furthermore, Patrimonium does not assume any responsibility and does not guarantee in any way that the functions on the Website will not be interrupted or that they are free of errors, that any errors are rectified or that the Website and its server are free of viruses or any other detrimental elements. Any of the information, performance data and other representations, links or other messages may be changed at any time without prior notice or explanation to users.

Performance and risk

Positive returns (value accretion) in the past are not a guarantee of positive returns in the future. In particular, there is no guarantee that an investor’s capital will be protected or that the value of employed capital or of shares will be equal to or greater than an investor’s original investment when the investor sells his shares or withdraws his capital. Investments in foreign currencies are exposed to the additional risk of unfavourable movements in exchange rates. If an investment is denominated in a currency other than your base currency, changes in the rate of exchange may have an adverse effect on value, price or income. The price and value of investments mentioned and any income that might accrue may fluctuate and may fall or rise. The value of such investments depends in part on the volatility of the corresponding exchange rates, and movements in these rates might bear negatively on the value of invested capital. The potential risks and returns of investments are also dependent on the managers’ investments policies and emphases. The value of investments may go up as well as down. Like any investment, an investment with Patrimonium has risks, in particular the risk of losing the amount invested. The risk factors of the financial instruments discussed on the Website are described in more detail in the fund prospectuses.

Exclusion of liability

Patrimonium and its contractual partners decline any liability (including negligence and third-party liability) for any direct, indirect or consequential loss or damage arising from reliance on this website, in connection with the information, performance data and other representations, links or other communications contained on the Website or related to the risks of financial markets. If nothing is indicated to the contrary, all figures are unaudited.

Website links

Users may leave the Website by clicking on a link. Visiting these external websites shall be done exclusively at users’ own risk. Patrimonium has not verified the content or security of external websites accessible through links on its own Website and does not assume any responsibility for the information they contain, particularly not for any offers, information or opinions. Patrimonium does not assume any responsibility for any damage caused during visits to such external websites. Users may visit external websites under their own responsibility and at their own risk.

Patrimonium shall not be liable for losses resulting from email messages that are received late or not at all. This also applies to other unprotected forms of communication whose function and risk exposure is similar to that of email messages.

Applicable law

Any legal relationship arising between Patrimonium and an individual or entity as a result of using the Website will be subject exclusively to Swiss law.