Exit: Casetech
Kartesia is pleased to announce today that the Altercap funds were fully repaid at par of their investment into the senior debt and RCF issued by Casetech. The entry of a strategic investor also active in the sausage casings industry, who provided equity to a significant capital increase, enabled Casetech to fully refinance the outstanding LBO related facilities, which were subject to a restructuring.
Casetech is a leading (#4) global supplier of artificial sausage casings. It services large meat/sausages manufacturers as well as local butchers & meat retailers. It focuses on the cellulose-fibrous casings segment characterized by an oligopolistic market environment and protected by high entry barriers, and on the premium plastic casings segment.