Reference project in the wellness sector
WINTERGERST advises the CF Group in arranging its debut syndicated finance arrangement
Chemoform AG, headquartered in Wendlingen, is one of Europe’s market leaders in the pool and wellness industry. Its extensive product range includes not only water care products but also complete swimming pool systems and the associated technology. With over 1,100 employees in more than 50 countries, Chemoform generates annual revenue of over €350 million.
Debt Advisory & Exit Readiness
EUR > 350 million
2022
Wellness
Baseline
Chemoform AG, headquartered in Wendlingen, is one of Europe’s market leaders in the pool and wellness industry. Its broad product range includes not only water treatment products but also complete swimming pool systems and the associated technology. With over 1,100 employees in more than 50 countries, Chemoform generates revenue of over €350 million. As part of its successful growth strategy and the acquisition of the Belgian-Dutch Starlinie Group, the company’s corporate financing—which had previously been heavily regionally focused—needed to be restructured. Furthermore, in preparation for a potential sale of the company (IPO readiness), a simplified corporate structure with clear reporting lines needed to be designed.
Challenge
Solution
WINTERGERST provided comprehensive advisory services to the CF Group on the development of a tailored financing structure that gave the group sufficient flexibility to implement its further expansion strategy. Furthermore, the complex corporate structure of the internationally positioned group was presented to the lenders in a transparent manner. In addition to the long-standing principal banks, new banks from the relevant markets in Germany, France, and Austria were brought on board for the consortium. With a term of up to 7 years and significant increase options, the financing structure was ideally tailored to the group’s needs. Following this, a catalog of measures was developed to prepare the company for a future IPO.
„We are glad that we had such a competent and experienced sparring partner at our side as Wintergerst. Thanks to their support we managed to find an excellent solution that perfectly prepared us for the loan approval processes of the banks and culminated in the ideal financing structure for the CF Group.“
Martin Eisele
CFO of the CF Group