Key Takeaways
- • Ares Management is leading a roughly €475 million private credit loan to Scholt Energy, according to market sources cited by PitchBook.
- • The financing will refinance existing debt and fund a dividend, with Bridgepoint also participating in the lending group.
- • The loan was marketed off an EBITDA of around €100 million, per the sources.
- • Waterland, which acquired Scholt in 2016, did not respond to requests for comment; Ares and Bridgepoint declined to comment.
Summary
Ares Management is leading a roughly €475 million private credit loan to Scholt Energy, according to market sources cited by PitchBook. The proceeds will be used to refinance debt and fund a dividend. Ares is the incumbent lender on the facility, and Bridgepoint is also part of the lending club.
The financing was marketed off an EBITDA of around €100 million, the sources said. Ares and Bridgepoint declined to comment on the transaction, and Waterland did not respond to a request for comment.
Waterland acquired Scholt in 2016. At that time, the acquisition was backed by debt from KBC, Investec and Rabobank.
Founded in 2005, Scholt is a Netherlands-headquartered independent energy supplier focused on the mid-to-large corporate segment. The company serves more than 12,500 customers and operates in Belgium and Germany in addition to the Netherlands. It helps corporate clients source their electricity and gas requirements.
The financing was marketed off an EBITDA of around €100 million, the sources said. Ares and Bridgepoint declined to comment on the transaction, and Waterland did not respond to a request for comment.
Waterland acquired Scholt in 2016. At that time, the acquisition was backed by debt from KBC, Investec and Rabobank.
Founded in 2005, Scholt is a Netherlands-headquartered independent energy supplier focused on the mid-to-large corporate segment. The company serves more than 12,500 customers and operates in Belgium and Germany in addition to the Netherlands. It helps corporate clients source their electricity and gas requirements.
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