Ashurst advised Ondal Holding GmbH on the refinancing of its loans. The new loans were provided to the medical systems manufacturer by a debt fund of British finance investor Pemberton. 

Ashurst advised Ondal Holding GmbH on the refinancing of its loans. The new loans were provided to the medical systems manufacturer by a debt fund of British finance investor Pemberton. The parties have agreed not to disclose the volume of the refinancing. Ondal is a portfolio company of Capvis funds advised by Swiss private equity firm Capvis Equity Partners AG (together Capvis).

The original financing was provided in 2012 by a lender consortium led by UniCredit in relation with the acquisition of Ondal by Capvis.

The Ashurst team was led by partner Dr Bernd Egbers and counsel Christiane Bestgen, assisted by associate Ralf Stenger and transaction manager Anna Zoth (all banking, Munich). Partner Dr Martin Bünning and associate Carina Park (both Frankfurt) advised on tax law. US finance law advice was provided by partner Kim Desmarais, assisted by senior associate Samir Ahuja and associate Misha Daha.

This is the fourth time within a few months that Ashurst has advised a Capvis portfolio company, most recently on the financing of the acquisitions of polyurethane machine manufacturer Hennecke and of the B2B marketplaces Wer liefert Was GmbH and Europages SA, as well as on the financing of the acquisition of a majority stake in the Felss Group, a global technology leader in cold forming of hollow parts.

The Ondal Group is a leading manufacturer of high-quality mechanical and electromechanical products and systems. The group employs more than 500 people at facilities in Hünfeld (Germany), Richmond (United States) and Shanghai and Suzhou (China).

Ashurst Germany has one of the largest banking and finance teams in the market with over 20 lawyers, paralegals and transaction managers across Frankfurt and Munich, including 4 partners. The team advises banks, alternative lenders and private equity companies and corporates on domestic and cross-border acquisition, real estate, asset and infrastructure/ project financings as well as on financial restructurings and corporate loans. Ashurst is market-leading in relation to mid-cap LBOs.