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15 Jan 2025

 

Investec supports Rivean Capital-backed ZND with their refinancing and upsizing of facilities - Investec's second integrated ABL and Cash Flow transaction in The Netherlands and our first club deal

Rivean Capital and ZND logos


Our role

We are pleased to announce that our Direct Lending team has completed its second integrated asset-based (“ABL”) and cashflow lending transaction in The Netherlands, supporting private equity fund Rivean Capital, with its refinancing of ZND. ZND is a global leader in temporary, high-quality fences and barriers using 100% recycled steel with state-of-the-art production facilities across North America and Europe (The Netherlands, UK, USA and Poland).

Investec’s ability to blend asset based and cashflow lending enables it to deliver certainty for growth, acquisitions, refinancing and wealth realisation. Investec is seeing growing demand for this kind of lending from mid-market corporate clients in certain sectors, notably manufacturing, distribution and B2B services. In this particular transaction, Investec was able to provide an integrated debt facility - alongside 3 other Dutch banks - to support ZND with its seasonal working capital requirements as well as upsizing and refinancing the acquisition finance debt.

The transaction builds on Investec’s existing operations across Europe and specifically in the Benelux, which include cashflow lending, fund solutions, M&A advisory and treasury risk solutions. Investec has been active in the Benelux since 2014 and through the acquisition of a majority interest in what is now Capitalmind Investec in 2023, also provides M&A advice in the region and in Europe, strengthening its footprint across Continental Europe.

We were able to support Rivean Capital and ZND by working closely with the management team and providing a flexible solution to enlarge the banking club to deliver additional liquidity for the business’ expansion. This was also Investec’s first transaction with Rivean Capital and a great way of establishing the relationship, led by Danielle van den Elshout. Investec is delighted to broaden our long-standing expertise in integrating cashflow and asset-based lending in the UK market in a transaction that is further evidence of our determination to bring innovative solutions to the European market.

 

About Rivean Capital

A pioneer in European mid-market private equity, Rivean Capital has been delivering creative growth solutions for aspiring business leaders since 1982.

With local presence through offices in the Benelux and DACH regions as well as Italy and Switzerland, Rivean is firmly rooted in traditions of partnership, pragmatism, and performance.

 

About ZND

ZND is the world's foremost supplier of temporary fencing and pedestrian barriers.

Established in 1965 in The Netherlands, ZND has a leading position in Europe and North America with operations in the United Kingdom, United States, The Netherlands and Poland supplying products to clients and distributors across the globe.

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