Private debt funds from the American fund manager Muzinich & Co finance Sofitec with a loan of 41.5 million euros.
Our company has been advised throughout the process by Sigrun Partners regarding the financial terms and by Araoz and Rueda regarding the legal conditions. DLA Piper has served as the advisor for Muzinich.
Sofitec has formalized today a loan of 41.5 million euros with funds managed and/or advised by the American credit manager Muzinich. The transaction is an important boost to strengthen our growth, with the aim of to exceed 70 million euros in sales in 2024 and double our workforce to reach 600 aeronautical professionals.
Specializing in corporate debt, Muzinich & Co offers, through its pan-European and Iberian private debt funds, customized financing solutions for companies with revenues between 20 and 500 million euros, aimed at growth initiatives, acquisitions, expansions and transitions.
In Spain, it has currently granted this type of financing to eight other companies, and Sofitec is now the first of the aeronautics sector in Spain which Muzinich backs financially, having already supported another company in the sector in the UK. To date, Muzinich has financed 50 medium-sized companies in Europe through its private debt funds.
We will allocate these funds to the expansion of our facilities in Carmona and to the implementation of new technologies, which will allow us to double our current productive capacity and expand our portfolio of services. Furthermore, this operation will make us easier to face the expected growth during the coming years and strengthening the long-term financial solvency of our company.
Thanks to this operation we reaffirm our strategic position as a supplier of aeronautics components on a global scale, by allowing us to continue taking on highly complex projects with high production cadences for the major aircraft manufacturers of the world, such as Airbus or Boeing.