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Tikehau to Provide Unitranche Financing to Support Seven2 Acquisition of Zwart

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Reporting: Nick Krause

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Direct lender Tikehau Capital is to provide unitranche financing to support investor Seven2’s acquisition of a majority stake in Dutch emergency energy supplier Zwart Techniek, sources told Octus.

The financing will lever Zwart at about 4.25x and is priced at about 550 bps over the reference rate, sources said.

Sell-side M&A and debt advisor Lincoln International was marketing the group off an EBITDA of about €15 million, with Seven2 and Exponent among the private equity investors submitting binding offers earlier this month, as reported.

French private equity firm Seven2 announced the agreement to acquire a majority stake in Zwart on Nov. 17.

Dutch private equity firms Scheybeeck Investments and Beek Capital, which acquired a majority stake in Zwart in 2015, will both retain minority stakes in the group, according to the statement.

Zwart designs, builds and maintains integrated energy solutions for infrastructure including data centers, according to its website.

Founded in 1930, the group has more than 150 employees, according to its website.

Tikehau Capital declined to comment. Seven2 did not respond to a request for comment by the time of publication.

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