Carlyle and amicaa provide NZ$140m loan for fuel retailer acquisition

(Bloomberg) — Carlyle Group Inc. and Australian private credit manager amicaa are providing a NZ$140 million ($86 million) loan to fund the company’s chief executive’s investment in New Zealand fuels. Management buyout of retailer NPD.

The loan will be used to refinance existing debt and enable Chief Executive Barry Sheridan to take over the company, according to a joint announcement on Wednesday. The deal is structured as a five-year unified operation, according to a person familiar with the matter who asked not to be named.

Founded in 1969, NPD owns and manages a fuel delivery fleet at 109 sites and provides fuel cards to customers.

Carlyle and amicaa established a private credit venture in August 2022 to provide financing to Australian and New Zealand companies. They participated in the US$230 million debt financing of Advent International’s acquisition of Australian fashion brand Zimmermann and provided a US$150 million private credit facility to RODE to fund the acquisition.

©2024 Bloomberg

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top