Segulah III, L.P., through acting agent HSH Nordbank, has put together a club of banks to provide a recapitalization of its portfolio company Dacke PMC.
The syndication was successfully completed just before the end of last year. HSH Nordbank, Nordea, FIH, Nykredit and Straumur provided senior debt financing, while HSH and Straumur together provided second-lien financing.
The recapitalization comes as an effect of the strong performance of Dacke PMC during the last two years.
Dacke PMC is a leading Nordic group within hydraulics. Customers include global market leaders within industry segments such as off-shore, wind power and material handling.
Dacke PMC was acquired by Segulah III, L.P. in 2005. The company employs nearly 1,500 people across the Nordic region, the Baltics and in China. 2007 sales amounted to SEK 3.4B with EBITA exceeding MSEK 300.