Quant issues senior bonds totaling EUR 29.5 million in connection with acquisition of Sataservice
Global maintenance leader Quant AB has issued further bonds of EUR 29.5 million under the senior secured bond agreement originally entered into in February 2018.
The issuance of further senior bonds is made in connection with Quant’s acquisition of Sataservice, a strong local Finnish industrial maintenance provider with revenues of above EUR 40 million the last twelve months, more than 400 employees and operations on more than 14 customer sites throughout Western and Southern Finland. The bond tap of EUR 29.5 million was successfully placed due to strong demand seen in the market. After the bond tap issue the total outstanding senior bonds amounts to EUR 92.0 million. The bonds mature in February 2023 and are issued with security in shares of the issuer and certain subsidiaries. The bonds will be listed on NASDAQ Stockholm before mid-February 2019. The net proceeds from the issues will be used for the acquisition of Sataservice.
– The refinancing of Quant in February 2018 provided a good structure to grow our business through the acquisition of Sataservice, who’s culture of high customer focus and operational execution is a perfect match for Quant’s culture. The acquisition is further strengthening our strong Nordic presence and the completion of the bond issue demonstrates that the bond market views our progress favorably, says Olof Sand, President and CEO of Quant AB (publ).
Pareto Securities AS has acted as sole bookrunner in connection with the issue of the bonds.
Stockholm, 29 June 2018
Quant AB (publ)
For further information, please contact:
Glenn Withers, CFO: +46 72 721 06 26
André Strömgren, VP Treasury: +46 708 410 796
Quant AB (publ) is a global leader in industrial maintenance. For over 25 years, we have been realizing the full potential of maintenance for our customers. From embedding superior safety practices and building a true maintenance culture, to optimizing maintenance cost and improving plant performance, our people make the difference. We are passionate about maintenance and proud of ensuring we achieve our customers’ goals in the most professional way. The group operates internationally in close to 30 countries world-wide, employing close to 3,000 people. The parent company is located in Stockholm, Sweden.
Quant AB (publ) is privately held by Nordic Capital since 2014. For additional information about the group, please visit www.quantservice.com.