Linklaters has advised BNP Paribas, Goldman Sachs and UBS (as global coordinators and physical bookrunners) and joint bookrunners CS, Rabobank and SMBC on the financing supporting Astorg’s acquisition of a majority stake in Corialis from current owners CVC. The financing comprises a €629m and £224m cov-lite TLB and a €150 million revolver. The acquisition has been financed through an Environmental, Social and Governance (‘ESG’)-linked syndicated term loan B, the first of its kind for an Astorg-backed company.
Corialis is a leading European designer and manufacturer of aluminium systems for windows and doors. It is headquartered in Belgium and employs c. 2,700 people across eight sites in the UK, Belgium, France, Poland, Portugal, La Reunion, Serbia and South Africa.
As part of the transaction, CVC will make a minority reinvestment in Corialis alongside Astorg.
The Linklaters banking team was led by partners Chris Medley and Pathik Gandhi, alongside managing associate Bernard Lung, associate Luke Dee and trainees Athena Ng and Louisa Pratt. Associates Sefia Jivraj and Jivaan Bennett advised on tax matters.
The team was supported by banking and tax teams in the firm’s Paris and Brussels offices.
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