London 25 October 2019. Apera Asset Management (“Apera”), a pan-European private debt investor in the mid-market space, proudly announces the arrangement of debt facilities to support H.I.G. Europe’s (“H.I.G.”) acquisition of Meyra Group S.A. (“Meyra”) and Alu Rehab A/S (“Alu Rehab”), two leading mobility equipment manufacturers in Europe.

The flexible financing solution provided by Apera and Deutsche Apotheker- und Ärztebank eG (“apoBank”) comprises an Unitranche Loan in combination with a Super Senior Term & RCF Facility and has been tailored to H.I.G.’s and the Group’s plan to form a new leading mobility equipment manufacturer in Europe. The combination of both companies offers attractive synergy potential across the value chain including sourcing, production and sales.

Meyra Group is a well-established manufacturer of wheelchairs and orthotic and prophylactic products focusing on Germany and selected Eastern European countries. The company has a comprehensive product portfolio comprising power and manual wheelchairs and is well-known for its high-quality customized solutions including active wheelchairs. Meyra Group was founded in 1936, has manufacturing, assembling and distribution facilities in Germany and Poland with approximately 600 employees.

Alu Rehab is a leading developer and manufacturer of high-end comfort wheelchairs and associated accessories which are marketed under the well-known “Netti” brand. The company is headquartered in Bryne (Norway) and has manufacturing, assembling and distribution facilities in Norway, Denmark and China. Alu Rehab was founded in 1989 and has approximately 120 employees.

Holger Kleingarn, Managing Director at H.I.G., said: “We are very pleased with the flexible and balanced financing provided by Apera and apoBank that accommodates the combined acquisition of Meyra and Alu Rehab and supports the future growth strategy of the combined Group. We enjoyed working together with both investment teams, who tailored the financing to meet the current and future needs of the combined Group.”

Klaus Petersen, Partner at Apera Asset Management, said: “We are delighted to support H.I.G. and both management teams in their vision to form an outstanding player in the European mobility equipment market. This is the second transaction with H.I.G. which underpins Apera’s relationship-driven and pan-European investment approach.”

Christoph Neff, Head of Corporate Finance department at apoBank added: “We thank H.I.G. and Apera for the close collaboration and look forward to support H.I.G. and the combined management team as financing partner on this important healthcare transaction.”

About Apera
Apera is a pan-European mid-market private debt investor operating in the UK, the DACH region, the Nordic region, France and Benelux. The firm develops long-term partnerships with private equity investors, SME borrowers, and advisors by providing tailored financial solutions that meet both the operational needs and growth objectives of clients, whilst producing attractive returns. Apera is focused on bringing a new standard of transparency to the private debt market.

Archive of: 2019

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November 2019

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