Nordhaven advised fast growing Fixcel Group on senior debt financing

23 oct 2020

Fixcel Group Oy is a manufacturer of movable steel-based modular buildings with globally patented module technology. Fixcel’s commercial operations were launched in 2018 and the company recorded net sales of EUR 33 million for financial year ended 31.3.2020. One of the benefits of Fixcel’s technology is healthy indoor air and its solutions are often used in schools, hospitals, elderly care and office buildings.

Nordhaven advised Fixcel on raising a new EUR 7 million senior debt funding package. Proceeds will be used for refinancing existing facilities and for implementation of rapid growth strategy, including capital expenditures for production capacity increase. The funding package also includes a flexible working capital facility for client project-related construction periods. New debt facilities were provided by two financiers under inter-creditor agreement.

Anders Gylling, CEO of Fixcel Group Oy:

We wanted to have a larger and more flexible funding package to support our continuing growth – without ownership dilution. The achieved funding solution with adequate liquidity reserves secures our growth strategy. We are very satisfied with Nordhaven’s thorough support and excellent process management from planning to signing. Highly recommended!

Martti Purhonen, partner at Nordhaven:

Considering Fixcel’s relatively short financial track record and current challenging market conditions, we are very pleased and proud to have achieved a senior debt-based growth financing solution. This is, again, a proof of the value add we can provide to our clients through dedicated debt & capital advice.

In addition to mergers & acquisitions and incentive advisory, Nordhaven provides independent debt & capital advisory to private and public companies as well as private equity clients. Our dedicated senior team has relevant hands-on experience and deep relations to various banks, institutional investors, debt funds and other alternative capital providers.

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