Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce that it has provided a unitranche loan to HPI Group (“the Company”).
Headquartered in Woerden, the Netherlands, HPI Group is a producer of plastic products for varying end markets. The company focuses on added-value, often co-developed, niche products with either specific technological or product critical requirements. Key product examples are paint testers, capped juice bottles for self-service and technical plastic products with specific designs for industrial applications. HPI is continuously emphasizing the usage of monomaterial and is perfectly positioned to work with 100% recycled raw materials thanks to the set-up of its machine park, contributing to a more circular economy.
Kartesia has provided €50.0m of total funding to facilitate a refinancing of existing debt and to further support the group’s investment strategy. The unitranche was provided by Kartesia’s Senior Opportunities I fund. The deal team at Kartesia comprised Matthieu Delamaire, Jean Diercxsens, Gaëtan Valcke, and Lise Campforts.
Paul Harkema, CEO at HPI Group, commented: “The entry of Kartesia as a financial partner for our business marks an important next step in the growth of HPI Group. The visions of both Kartesia and HPI on how to grow the business are aligned and we are looking forward to working together with the Benelux team to execute our ambitious future plans.”
Jean Diercxsens, Director at Kartesia, commented: “We are thrilled to announce the first deal for Kartesia’s senior debt strategy in the Benelux. We have been impressed by the HPI management team’s track record in shaping an integrated, customer-focused group through acquisitions, targeted innovations and a strong focus on operational excellence.”