The transaction resulted in the transfer of equity ownership to the noteholders and the comprehensive restructuring of the Group’s existing liabilities amounting to approximately EUR 350,000,000. The financial restructuring was implemented through a scheme of arrangement under Part 26 of the UK Companies Act 2006.

We advised on Luxembourg restructuring, corporate, finance, capital markets and tax matters. Key elements of the transaction included:

  • The set up of a Luxembourg structure for the acquisition of Standard Profil GmbH
  • EUR 145,000,000 in new funding
  • The partial release of existing liabilities and reinstatement of the remaining portion into new secured notes with extended maturities, issued by a newly incorporated Luxembourg company

The Standard Profil Group is a full-service automotive supplier specialising in sealing systems for renown automotive manufacturers. The restructuring strengthened the Group’s balance sheet, extended the maturity profile of its obligations, and positioned the business to pursue long-term growth.