Background
- Founded in 1999, Vinventions is a leading global wine closure manufacturer which offers a broad range of technical closures with a particular focus on eco-friendly synthetics and screwcaps
- Since its formation, Vinventions has established itself as a global leader in sustainable and high-performance wine closures, investing in products made from renewable, circular or biodegradable materials
- Following L-GAM’s March 2021 acquisition of a majority stake in Vinventions - alongside the management and the founder - it was decided to refinance Vinventions capital structure to best support its growth ambitions
Process
- DC Advisory was retained as exclusive debt advisor by Vinventions in order to assist in securing an attractive acquisition financing package to refinance existing debt and secure undrawn financing for future acquisitions
- During this competitive process a large set of lenders were approached, with an emphasis put on ability to fuel future external growth, provide attractive pricing (including ESG ratchets) and flexibility
- Vinventions management and shareholders opted for a Term Loan B structure to support the company in its future development
Outcome
- Following a timely process, Hayfin - one of Europe's leading alternative asset management firms - was selected as the best option to provide a tailored senior financing package, including both funded and unfunded commitments
- This transaction further demonstrates DC Advisory's existing successful track record executing debt acquisition financing processes in the European debt markets
- This transaction closed in April 2022