EQT Credit completes unitranche financing for CTEK
EQT Credit, through its Direct Lending investment strategy, is pleased to announce its support for CTEK AB (“CTEK” or the “Company”) with a senior secured financing.
Owned by Altor, CTEK is today a leading provider of technologically advanced battery chargers, with market-leading positions across Europe, Australia and the US. Following the recent acquisition of Chargerstorm, CTEK is also Scandinavia’s largest developer of electric vehicle charging solutions.
Paul Johnson, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: “CTEK has over the past 30 years become the global leader for premium battery charging solutions, based on its market leading products and technology. With a strong brand and presence in key markets, EQT Credit believes CTEK is primed for continued growth.”
Alexandre Hökfelt, Director at EQT Partners’ Credit team, Investment Advisor to EQT Mid-Market Credit, added: “In addition to its market leading position in battery chargers, EQT Credit is excited to support Altor and CTEK as they continue to grow their electric vehicle charging solutions in Scandinavia.”
CTEK is the fifth Nordic investment made by EQT Mid-Market Credit II and the third in 2019.
Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Credit
Alexandre Hökfelt, Director at EQT Partners, Investment Advisor to EQT Credit
EQT Press Office, +46 8 506 55 334, email@example.com
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
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About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings.