LONDON–(BUSINESS WIRE)–#FlexibleFinancing–H.I.G. WhiteHorse, a credit affiliate of H.I.G. Capital, a leading
global private equity and alternative assets investment firm with over
€26 billion of equity capital under management announced today that it
has arranged a €60m Senior Secured Loan for Grupo Hospitalario Recoletas
Recoletas is a family-owned Spanish hospital group headquartered in
Valladolid, Spain. It focuses on the private healthcare market, and
operates 7 hospitals and several clinics. The company works with all
local insurance companies (c.90% revenues), and maintains a dominant
position in Castilla and Leon.
H.I.G. WhiteHorse has provided a flexible financing structure which
replaces the company’s existing debt facility and provides additional
capital to support growth, continuing the revenue expansion already
Amando Rodríguez, CEO at Recoletas, commented: “This transaction
provides Recoletas with the long term stability, and the flexibility to
continue investing in its hospital portfolio to build on our current
strong market position. H.I.G. WhiteHorse has been supportive and
demonstrated a high degree of flexibility and pragmatism in providing us
with a solution that suited our requirements and we look forward to
working with H.I.G. WhiteHorse as a financing partner in the long term.”
Appu Mundassery, Managing Director at H.I.G. WhiteHorse, said:
“This transaction demonstrates H.I.G. WhiteHorse’s ability to tailor a
bespoke, flexible and deliverable debt package to support an
entrepreneurial Spanish family in its expansion plans. With its strong
market share and local expertise, Recoletas is in a good position to
exploit opportunities arising from a fragmented market with
opportunities to build scale, and we look forward to supporting its
About H.I.G. WhiteHorse
H.I.G. WhiteHorse is the credit
affiliate of H.I.G. Capital focused on providing flexible debt financing
solutions to middle market companies in Europe and the United States.
Operating a broad investment mandate, H.I.G. WhiteHorse provides
unitranche, senior and subordinated debt capital for refinancings,
growth capital, acquisitions, buyouts, and balance sheet
recapitalizations. Credit facilities typically range from €10 million to
€75 million for companies with revenues of €40 million or more. For more
information, please refer to the WhiteHorse website at: www.higeurope.com/whitehorse.
About H.I.G. Capital
H.I.G. is a leading global private
equity and alternative assets investment firm with over €26 billion of
equity capital under management.* Based in Miami, and with European
offices in London, Hamburg, Madrid, Milan, Paris, and U.S. and Latin
American offices in New York, Boston, Chicago, Dallas, Los Angeles, San
Francisco, Stamford, Bogotá, Rio de Janeiro and São Paulo, H.I.G.
specializes in providing both debt and equity capital to small and
mid-sized companies, utilizing a flexible and operationally focused/
H.I.G.’s equity funds invest in management buyouts, recapitalizations
and corporate carve-outs of both profitable as well as underperforming
manufacturing and service businesses.
H.I.G.’s debt funds invest in senior, unitranche and junior debt
financing to companies across the size spectrum, both on a primary
(direct origination) basis, as well as in the secondary markets.
H.I.G. is also a leading CLO manager, through its WhiteHorse family of
vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
H.I.G.’s real estate funds invest in value-added properties, which can
benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than
300 companies worldwide. The firm’s current portfolio includes more than
100 companies with combined sales in excess of €30 billion. For more
information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and