More funding provided for Selecta

KKR Asset Management, a sub-investment grade manager wholly owned by Kohlberg Kravis Roberts & Co, has agreed to provide €220m long-term financing to Selecta.

The investment is part of a comprehensive refinancing of the company’s capital structure, providing flexibility for investments in the machine park and implementation of the ongoing growth strategy.

Selecta is Europe’s largest independent pan-European vending machine operator, with operations in 21 countries, including France, Switzerland, Sweden, the UK and Germany.

Mark Brown, a London-based director on KKR’s ‘special situations’ team, said: “We look forward to partnering with Selecta and ACP. We believe the company now has the liquidity and a long-term, patient capital structure to pursue several attractive strategic initiatives.

“Over the past several years, our Special Situations team has deployed over $3.8bn of special sits and private credit, supporting companies across Europe. Our investment funds provide long-term capital and offer a solution to companies who seek access to diversify their sources of funding.”

 

 

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