European Lending Fund I (“ELF”) Provides EUR 20m Refinancing and Growth Capital to WERU Group
We are pleased to announce that ELF has provided a €20.0m Senior Secured Loan to WERU Group, a portfolio company of funds advised by H.I.G. Capital. The loan proceeds will be used to refinance existing facilities as well as support WERU Group’s further growth plans.
“We are very happy in supporting a true German market leader backed by a high-quality sponsor. We are also very pleased in leveraging our capabilities in completing the first transaction out of our European Lending Fund I providing SMEs with Senior Secured Capital Solutions”, says Christian Fritsch, Board Member of ELF.
Klaas Reineke, Managing Director at H.I.G. Capital, commented: “The financing solution by ELF provides WERU Group with the long-term stability and the flexibility to make planned growth investments to further expand the Group’s strong market position. ELF has been very supportive and demonstrated a high degree of flexibility and pragmatism in providing a portable financing solution.”
WERU is the leading German manufacturer of high-quality windows and external doors of residential buildings with a full range of frame materials and is headquartered in Rudersberg, Baden-Württemberg. WERU's products are positioned in the premium- and luxury segment and WERU is perceived as the quality leader in the market.
Among its competitors, WERU provides outstanding service quality, lead time, delivery reliability, and after sales support for specialist retailers. WERU has a renowned and distinguished brand, a "Made-in-Germany" reputation and a clear USP. WERU was rewarded with "Deutsche Standards - Marke des Jahrhunderts" in 2019.