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Successful Recapitalization and Extension of Debts until 2022 as Basis of Growth Course

The BARTEC Group has achieved another crucial milestone in the realignment of the company:
The restructuring of the entire financing process and the extension of the debt facilities have formed a stable basis for the implementation of the newly created five-year growth plan and the positive development of the global market leader in explosion protection.

BARTEC is to receive EUR 70 million of new capital, of which EUR 50 million was contributed by shareholder Charterhouse Capital Partners LLP, whilst the remaining EUR 20 million was provided by various lenders. Out of the overall funds, EUR 50 million was used to increase the equity capital, which contributed to a further stabilization of the company. As a result, the creditworthiness of the company was granted an improved rating by the credit rating agency Moody's. All of BARTEC's debt facilities have been extended until June 2022. The conclusion of negotiations was unanimously supported by the lenders and Charterhouse.

In addition to the capital injection, three extremely experienced managers were hired to strengthen the team: A new Chief Operating Officer, a Chief Sales Officer and a Chief Transformation Officer, who will collaborate with company management to further accelerate the implementation of the restructuring concept which was presented back in December.

"We are extremely pleased about the successful completion of one of the most challenging refinancing processes in recent years. We would like to thank Charterhouse and our lenders for their confidence in BARTEC, not forgetting all of our staff, without whom this success would not have been possible," emphasizes Dr. Thomas Lützenrath, CEO of the BARTEC Group. "Together, we can now put all our effort into concentrating on the future and focusing even more intensively both on our existing customer network and new business opportunities," asserts Eduard Sworski, CFO of the BARTEC Group. The successful future of our group is guaranteed.

Press release
Bad Mergentheim, Germany
February 2017

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