Consolis Group Successfully Completes Comprehensive Recapitalisation Transaction
The Consolis group, a European leader in precast concrete solutions for the building and utilities sectors, has completed a comprehensive recapitalisation process to accelerate the deployment of its growth strategy.
The comprehensive recapitalization marks the beginning of a new era and will allow the Group to accelerate its sustainable growth strategy and innovation initiatives from an elevated position of financial strength.
“The Consolis group and its management are delighted to have completed its comprehensive recapitalisation transaction and secure material new money for the Company. We are grateful for the support received from our banks, bondholders, lenders and Former Sponsor and we are looking forward to working closely with our new shareholders in this new era for the Group. The transaction highlights our investors’ strong confidence in the Group’s business, and with the new financing in place, management can fully focus on the successful delivery of our business plan as we aim to grow our market position across our end geographies, accelerate our growth strategy and continue to support our customers with new solutions for decarbonization of the construction sector. The Transaction allows us to invest in innovation and sustainability efforts to deliver even greater value to our customers, our shareholders and the local societies where we operate.”
– Mikael Stöhr, President of the Consolis Group
Pursuant to the Transaction, the SSN holders have become the majority shareholders of the Group and participated in the provision of the Interim Facilities and Exit Financing. The Holdco PIK Loan lenders and Former Sponsor will remain as minority shareholders. This underscores the confidence that investors have in the Group’s strategy and its progress as a sustainable leader in the journey towards finding new solutions for climate-neutral concrete buildings and constructions.
“I am honored to have been appointed as the new Chairman of the Consolis group, and I look forward to leading the board’s efforts as Consolis focuses on building a competitive business positioned for growth. Alongside Consolis’ new investors, board members, and executive management team, we will continue to collaborate with our partners and customers to drive transformative changes towards sustainability in the construction industry across the Group’s 17 markets.”
– Patrick Mathieu, designated new Chairman of the board of directors of the Consolis group
For more information on the transaction please visit: https://consolis.com/investors/investor-press-releases/
About Consolis
Consolis is a European leader in precast concrete solutions providing highly engineered and sustainable solutions for the building and utilities sectors. Together with our customers, we create beautiful buildings and infrastructure with the qualities to serve local communities for centuries to come. Well-built for well-being, that is our reason to be.
We believe in responsible industry leadership, and we are committed to lead the sustainable transformation of our industry. The Science Based Targets initiative (SBTi) has validated that Consolis Group’s near-term emissions reduction targets are aligned with the 1.5°C science-based targets framework. Consolis employs about 7,500 people in 17 markets throughout the world. The Group generated €1 billion of sales in 2023.
For further information, please contact
Helen Spalding, Group Communications Director, Consolis, +46725197782, helen.spalding@consolis.com
This press release includes forward-looking statements. These statements are based on our beliefs and assumptions and are subject to risks and uncertainties. Generally, statements that are not about historical facts, including statements concerning our possible or assumed future actions or results of operations are forward-looking statements. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements which speak only as of this date hereof.
