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.