IK Partners’ €425 Million Debt Financing for the Acquisition of Renta Group Oy

White & Case has advised the bookrunners and mandated lead arrangers on the deal.

J.P. Morgan SE acted as Global Coordinator and Joint Physical Bookrunner, Nordea Bank AbP, as Nordic Coordinator and Joint Physical Bookrunner, and Deutsche Bank Aktiengesellschaft, DNB Markets, a division of DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ), as Joint Bookrunners on the offering of €350 million senior secured floating rate notes due 2027 related to IK Partners’ acquisition of Renta Group Oy.

Concurrently was established a €75 million super senior revolving credit facility.

The proceeds from the sale of the notes, together with equity contribution from IK Partners, will be used to finance the acquisition of Finnish equipment rental company Renta Group by IK Partners, refinance existing indebtedness of Renta Group and for general corporate purposes.

IK Partners is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. 

Renta Group is a full-service machine and equipment rental services company with more than 100 depots across Finland, Sweden, Norway, Denmark and Poland.

The White & Case team which advised on the transaction was led by partners Gilles Teerlinck (London; Picture), Hadrien Servais (Brussels) and Jeremy Duffy (London), and included partners Carl-Hugo Parment (Stockholm), Tanja Tornkvist (Helsinki) and Chad McCormick (Houston), and associates Pierre Brule, Adebola Ogunsanya, Janam Nagra, Marco Zacchino (all London), Scott Goldner (Brussels), Max Axelsson, Alexandra Stolt, Minna Horwitz (all Stockholm), Nikolas Limingoja, Helen Happonen, (both Helsinki) Devon Yamauchi (Houston) and Caitlin Dunham (New York).

Involved fees earner: Max Axelsson – White & Case; Jeremy Duffy – White & Case; Scott Goldner – White & Case; Helen Happonen – White & Case; Minna Horwitz – White & Case; Nikolas Limingoja – White & Case; Chad McCormick – White & Case; Adebola Ogunsanya – White & Case; Carl Hugo Parment – White & Case; Hadrien Servais – White & Case; Alexandra Stolt – White & Case; Gilles Teerlinck – White & Case; Tanja Tornkvist – White & Case; Devon Yamauchi – White & Case; Marco Zacchino – White & Case;

Law Firms: White & Case;

Clients: Deutsche Bank AG; DNB Markets; J.P. Morgan Securities LLC; Nordea Bank AB; Skandinaviska Enskilda Banken AB;