CLIENT : Sofinter

TRANSACTION :Debt advisory & restructuring

DATE: May 2019

SECTOR: Industrial

assistance to Sofinter, leading Group in the design and construction of both industrial and utility boilers, in the definition of a new financial recovery plan as well as the negotiation of the terms and conditions of the restructuring agreement with the creditor banks for a total debt of approx. € 540m.
Specifically, the Group mainly operates in North America, Europe, Middle East and North Africa, generating in 2018 consolidated revenues of approx. €260m, through the following companies/brands:

Macchi: brand leader in the design and construction of industrial boilers and recovery boilers for cogeneration cycles for large industrial refining/gas and petrochemical plants

AC Boilers: company leader in the design, construction and installation of large boilers for electricity production plants (coal, gas, oil, renewable energy)

Europower: company that offers EPC (Engineering, Procurement, constructor) services.

Itea: company that owns an innovative combustion technology, the flameless pressure oxy-combustion, with minimum environmental impact

CCA “Centro Combustione Ambiente”: company that owns one of the most important European research centers for the development of innovative combustion techniques with low production of pollutants and high environmental sustainability.

Deal value:  c. €540m