Add-on financing for the acquisition of Piling and Drilling Rigs by DiesekoCorporate News -
On 8 September 2014, NIBC Leveraged Finance successfully closed the financing of the acquisition of Piling and Drilling Rigs (‘P&DR’) by current client Dieseko.
Dieseko is the global market leader in providing vibratory hammers to the construction sector. The hammers are primarily used to drive metal sheets or piles into the ground on construction sites. Dieseko has now acquired P&DR which manufactures specifically designed piling rigs (used for impact hammers) and drilling rigs. P&DR is a relatively small and young company, making use of recently acquired designs for high-quality rigs. Through Dieseko’s established international presence, the company can now offer its clients equipment for the complete range of foundation techniques (i.e. vibrating, piling and drilling). As most construction activities require multiple techniques, clients often need all types of equipment, making the acquisition a very logical addition to the company.
After having supported the buy-out of Dieseko by NPM Capital in November 2013, via this transaction we continue our support for both Dieseko and NPM Capital. NIBC acted as Mandated Lead Arranger in providing the senior debt facilities together with Rabobank. NIBC also acts as Facility and Security Agent.