London, 05 February 2013
Macquarie Lending and Tikehau Investment Management (Tikehau IM) have provided a €53 million unitranche financing to support Oaktree Capital Management’s acquisition of Evac Oy, the global leader in waste and wastewater collection and treatment solutions for the marine and building markets.
The transaction follows the launch of Macquarie Lending and Tikehau IM’s French Credit Programme in July 2012, which is designed to deliver reliable lending products to borrowers with speed, simplicity and certainty of execution. Under the French Credit Programme, Macquarie Lending and Tikehau IM will invest up to €200 million per transaction across a variety of sectors in the French mid-cap market.
Florian Herold, Co-head of Macquarie Lending Europe said: “We are pleased to announce our first financing in co-operation with Tikehau. The Oaktree transaction is an excellent example of how we are able to provide innovative and flexible financing solutions to clients.”
Mathieu Chabran CIO of Tikehau IM said: “This first transaction with Macquarie reinforces our common conviction that our cooperation can add significant value for our clients. We are looking forward to developing this relationship in the long term as our joint pipeline grows.”
Macquarie Lending provides finance to corporates and selectively invests in debt trading in the secondary debt markets. Since 2009, Macquarie Lending has made over $A18 billion of new lending commitments globally, with over €2.7 billion currently committed in Europe.
Tikehau IM currently manages over €1.3 billion of assets focused on credit strategies. On its Private Debt business, Tikehau IM offers a wide range of private financing solutions from unitranche to preferred equity.
The Tikehau Group was set up in 2004 to invest and manage the long-term capital of institutional and private investors through various asset classes (listed and unlisted stakes and real estate). In 2007, the Tikehau Groupe launched Tikehau IM, an investment company specialising in fixed-income products that has become in just a few years one of the leaders on its market.
The Tikehau Group is majority held by its managers, alongside first-tier institutional partners, such as Crédit Mutuel Arkéa and Unicredit. As at 31 December 2012, Groupe Tikehau managed over €1.5 billion in investments, including more than €1.3 billion in assets under management.