Mon 11/23/2020 13:33 PM
Kermel, a French producer of fire-resistant fiber used in protective clothing, is expecting to refinance its existing debt based on leverage levels of 4x to 5x, sources told Reorg. The company’s EBITDA is in between €16 million to €17 million, sources added.
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The company, which is owned by French private equity firm Qualium Investissement, and in which private equity firm Ardian has a minority stake, has appointed DC Advisory for the process, sources said.
Qualium acquired a majority stake of the business from Equistone Partners Europe in 2012. AXA Private Equity provided a unitranche facility to support the acquisition, according to a
statement at the time.
Kermel produces fire resistant poly(amide-imide) fibers for textile, technical and industrial applications. Founded in 1992, the company is located in 24 countries.
Qualium Investissement and DC Advisory did not respond to Reorg’s request for comment. Ardian declined to comment.
--Lucia Camblor
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