3rd October 2017
Permira Debt Managers (“PDM”) announces that direct lending fund Permira Credit Solutions III (“PCS3”) acted as senior secured lender to refinance Prinsen B.V., a leading provider of premium instant powdered food solutions. The company currently operates across four distinct business units: health, premium instants, creamers and ingredients, each with its own diversified market and end customers.
The transaction further supports the acquisition of Berning’s, a German nutrition bar manufacturer, accelerating growth in protein-enriched products and focusing on diet, sport and wellness. Berning's has a portfolio of c.500 production recipes for contract manufacturing and private label retailers. Together the combined group will be positioned as a one-stop shop for ‘Active Nutrition’ with products to support consumers seeking a healthy lifestyle.The newly formed business will operate under the name Prinsen-Berning.
This was a primary club deal with PCS3 acting as majority lender. The deal was originated through a strong relationship with the debt advisor, Marlborough Partners, who were advising the sponsor on the transaction. The company is owned by Bencis Capital.