Linklaters has advised The Carlyle Group in relation to the successful financing for its acquisition of Flender GmbH from Siemens for a purchase price of more than €2 billion. The firm advised on the €1.32 billion (including an RMB tranche of the equivalent of EUR €80m) senior credit facilities including a widely syndicated cov-lite TLB, RCF and a structured multi-issuer bank guarantee platform with market-leading ESG-linked pricing and terms.
Headquartered in Bocholt, Germany, and active across 35 countries including Asia, Flender is a global leader in drive technology employing approximately 8,600 people and had sales of c.€2.2 billion in FY20. The company’s comprehensive product and service portfolio includes gearboxes, couplings, and generators for a wide variety of industries.
The Linklaters team was led by partner Olives Sceales and managing associate Pathik Gandhi with associates Max Macklin and Krishan Chauhan and supported further by managing associate Przemyslaw Lipin and the Linklaters Frankfurt Banking and Tax teams.
