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Private Credit: Patrimonium supports Nimbus in the acquisition of Lonstroff AG

26.02.24

Patrimonium supports Nimbus in the acquisition of Lonstroff AG and provides working capital financing.

Patrimonium Middle Market Debt Fund, a private debt fund of Patrimonium Asset Management AG (“Patrimonium”) focussing on mid-market companies, supports private equity fund Nimbus in the acquisition of Lonstroff AG (“Lonstroff” or “Company”), providing a EUR 15 million bond for working capital financing with a possible ESG component.

Lonstroff is a global leader in elastomer processing. It has been developing and producing high-quality elastomer components for the medical technology and pharmaceutical industries since 1908. Headquartered in Merenschwand (AG), Switzerland, Lonstroff operates two sites in Switzerland and a further production site in Slovenia. The company employs over 300 people.

With over 200 sponsored and sponsorless transactions in the last 18 years, Patrimonium is a leading private debt provider in the DACH region. Johannes von Neumann-Cosel, Director, comments: “The long-term financing of a medium-sized, internationally operating market leader is emblematic of our special situation strategy. Driven by the complexity of the transaction, we were once again able to structure a customised financing together with Nimbus.”

Christian Basedow from Nimbus: “Patrimonium, which we already know from previous investments, is a reliable and pragmatic partner that we can rely on, especially in potentially uncertain economic times. The financing with an ESG component is an incentive for us to achieve our ESG goals more quickly.”

Nimbus invests in companies that are at a crossroads in their development – e.g. group carve-outs such as Lonstroff. Nimbus currently manages around 30 companies with sales of between 30 and 300 million euros in the DACH region, BeNeLux and the UK.

Nimbus focuses on companies with a healthy core activity and potential that can be realized through additional development, operational improvements and/or growth. Nimbus is actively involved in each company with the aim of actively supporting and accelerating the change phase.

Patrimonium was advised by Ashurst (Dr Tobias Krug, Julia Friedle) and Niederer Kraft Frey (Markus E. Kronauer). Nimbus was advised by Lindenpartners (Michael Kohl) and AC Tischendorf (Dr Fabian Brocke, Sandra Brieske), among others.

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