Thursday, 21. November 2019

ALSO: Leeway for further growth

The  ALSO  Group  is  signing  a  new  EUR  300  million  revolving  credit  facility  (RCF)  that  marks  the successful Europe-wide technology provider’s debut in the syndicated credit market and confirmed the banks' confidence in the corporate strategy.

For a term of five years ALSO is therefore able to make use of the attractive current financing conditions in the market and thus gain greater flexibility for potential acquisitions and its corporate financing.

«This newly promised EUR 300 million line of credit and the keen interest shown by the banks are a clear sign of our financial partners’ confidence in the solidity, stability and sustainability of our business model», says Gustavo Möller-Hergt, CEO of ALSO Holding AG (SIX: ALSN). «We are thereby increasing our financial leeway with regard to the Group’s strategic alignment and to further growth by means of potential acquisitions».

The banking consortium consists of eight banks led by ALSO’s longstanding partners BNP Paribas, Deutsche Bank, Helaba and UniCredit. The RCF expands ALSO's already diversified financing concept, which consists of bilateral  credit  lines,  factoring,  a  significant  operating  cash  flow  and  long-term  bonded  loans.  The  long-term bonded loans represent a balanced overall distribution of maturity structure ranging from 2020 to 2027.

Direct link to media release: https://www2.also.com/press/20191121en.pdf

Contact person ALSO Holding AG:

Manuela Rost-Hein, Head of Communications ALSO Group
Phone: +49 151 14040215
E-Mail: manuela.rost-hein@also.com

ALSO Holding AG
ALSO Holding AG(ALSN.SW) (Emmen/Switzerland) brings providers and buyers of the ICT industry together. ALSO offer more  than  550  vendors  of  hardware,  software  and  IT-services  access  to  over  100  000  buyers,  who  can  call  a  broad spectrum  of  other  customized  services  in  the  logistics,  finance,  and  IT  services  sectors,  as  well  as  traditional  distributionservices. From the development of complex IT landscapes, the provision and maintenance of hardware and software, right through to the return, reconditioning and remarketing of IT hardware, ALSO offers all services as a one-stop shop. ALSO is represented  in  23European  countries  and  generates  total  net  sales  of  approximately  9.2  billion  euros  with  around  4  000 employees  in  the  fiscal  year  2018.  The  majority  shareholder  of  ALSO  Holding  AG  is  the  Droege  Group,  Düsseldorf, Germany. Further information is available at http://also.group

Droege Group

Droege  Group  (founded  in  1988)  is  an  independent  advisory  and  investment  company  under  full  family  ownership.  The company  acts  as  a  specialist  for  tailor-made  transformation  programs  aiming  to  enhance  corporate  value.  Droege  Group combines its corporate family-run structure and capital strength into a family-equity business model. The group carries out direct investments with its own equity in corporate spin-offs and medium-sized companies in «special situations». With the guiding principle «execution -following the rules of art», the group is a pioneer in execution-oriented corporate development. Droege  Group  follows  a  focused  investment  strategy  based  on  current  megatrends  (knowledge,  connectivity,  prevention, demography,  specialization,  future  work,  shopping  4.0).  Enthusiasm  for  quality,  innovation  and  speed  determines  the company’s actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries. More information: https://droege-group.com  

Disclaimer

This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management.  Known  and  unknown  risks,  uncertainties,  and  other  factors  could  lead  to  material  differences  between  the forward-looking  statements  made  here  and  the  actual  development,  in  particular  the  results,  financial  situation,  and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.

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