Tailored funding solutions for Klarius Group
04/02/2010
Burdale Financial Limited (“Burdale”) has supported the acquisition by Klarius Group of Quinton Hazell Group from US-based Affinia Group Inc. Burdale worked with Klarius to structure a flexible and robust pan European multi-million Euro asset based lending solution to support the acquisition and on-going working capital requirements of the enlarged Klarius Group. The facility involved funding to a number of European countries and was based on a diverse range of assets.
Klarius Group is
Europe
’s fastest growing automotive aftermarket manufacturing and distribution business. Leicester based Quinton Hazell has strong manufacturing and distribution networks in France, Germany, Italy and
Spain
. This acquisition brings a wide range of well known automotive aftermarket brands together, combining extensive manufacturing resources from both companies.
Burdale is a wholly owned subsidiary of Bank of Ireland and a leader in Comprehensive Asset-Based Lending (“CABL”) with c.50 professionals operating in the UK and the
US
. CABL is one of the most advanced forms of asset-backed commercial finance and a powerful way of leveraging a company’s underlying assets. Burdale continues to see high levels of activity in the UK and, working with its
US
colleagues, Burdale has the capacity to execute transatlantic transactions seamlessly.
