Pemberton, the asset manager backed by one of Europe's largest insurers, Legal & General Group PLC, is supporting the recapitalisation of its portfolio company Rameder a leading omni-channel e-commerce distributor of towbars and car-related transportation solutions in Europe. Pemberton is providing additional term debt to fund a dividend payment to Rameder's shareholders and fresh acquisition & capex facilities to support the company's growth.
Rameder was acquired by FSN Capital V in early 2019, which Pemberton supported by providing term debt and acquisition facilities. Since then, the company has shown dynamic growth via two routes: (i) building out its strong market position in the German home market and establishing a network of installation centres, where clients can have towbars fitted at a fixed price; (ii) expanding into Sweden, Finland and the Czech Republic via a number of add-on acquisitions.
FSN Capital V intends to step up Rameder's growth further by continuing the roll out of the installation centres and making further acquisitions to broaden the company's European footprint and diversify its product portfolio. The latter part of the strategy will be supported by the fresh acquisition facilities Pemberton has committed as part of the recapitalisation.
"We have been lending to Rameder since 2017, supporting growth under its previous owner", said Jürgen Breuer, Head of Germany, Austria and Switzerland at Pemberton. "Supporting a buy & build strategy over many years plays to the strengths of Pemberton as a reliable partner and provider of long-term, locked-in capital from large institutional investors. FSN Capital V is in the process of extending Rameder's strong market position to European scale and we are excited to support this. We have supported 14 portfolio companies this year by financing add-ons or increasing the amount of acquisition facilities."
Justin Kent, Partner at FSN Capital Partners (investment advisor to FSN Capital V), added: "Rameder's product offering is at the heart of supporting people's mobility as they pursue outdoor sports and leisure activities. It is therefore benefitting from the trend towards more active and healthy lifestyles, which has been reinforced recently by the imposed limitations we all have found ourselves in. We will continue to further strengthen and broaden Rameder's growth trajectory and are pleased to have Pemberton at our side as a partner who buys into our strategy and is capable of supporting it."
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