Barings renews financing support to Questel, co-arranging a new ESG Unitranche to back the group’s next growth phase
Barings, one of the world’s leading financial services firms, today announced that it has co-arranged a new €555m senior secured credit facility to support Eurazeo Capital and IK Investment Partners investment in Questel, alongside Raise Investissement and the management team. Headquartered in France, Questel is a major intellectual property solutions provider operating worldwide. The financing includes an annual review of the margin for the credit facilities, based on the achievement of five pre-defined ESG criteria. Financial terms were not disclosed.
“Questel is one of the few truly international players providing a one-stop-shop for Intellectual Property solutions. This transaction builds upon our strong long-term relationships with both Eurazeo and IK, and marks our second ESG Unitranche in 2020” said Alice Foucault, Managing Director in Barings’ European Private Finance group. “With the challenges of the new market environment we continue to experience, we are looking for opportunities to invest in high-quality and resilient businesses backed by top-tier sponsors, clearly demonstrated by our re-investment in Questel.”
“Since our initial investment in the business in 2018, the company has demonstrated significant growth driven by underlying market demand, strong commercial performance, and innovation to create new service offerings in IP. We are therefore delighted to be able to provide renewed support to Questel through its next growth phase, with financing in place to continue to execute on consolidation opportunities which not only scale the group but further diversify its offering” added Rana Misirlizade, Associate Director in Barings’ European Private Finance group.
As a leading intellectual property solutions provider globally, Questel provides a comprehensive and integrated platform for software and services, addressing all Intellectual Property and Innovation management needs. The company employs 900 people in 30 countries, working to support 6,000 clients, including a number of large multinationals, offering end-to-end collaborative patent and brand management solutions across the innovation and property cycle, from invention through to filing and renewal.
Barings is a $354+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.
*As of September 30, 2020
Barings Global Private Finance is a 60+ investment team globally, with a 40-year track record of successfully financing middle-market buyouts, acquisitions, and recapitalizations. With product capabilities that range from traditional senior debt to bespoke junior capital securities, and hold sizes of €200 million+, Barings is focused on providing capital solutions that help our private equity clients complete their deal on time and as expected. Our long-term commitment to the asset class, local origination in each region, consistent team, and broad range of investment capabilities, are designed to provide investors an absolute spread premium to broadly syndicated loans as well as an attractive risk-adjusted return potential.