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Peinemann renews, extends and increases its lease and credit facilities

We use the deal card to tell you about our completed assignments. This gives you insight into our working method and cooperation with our various clients. This time we tell you about the completed order for Peinemann.

  • Client: Peinemann
  • Year: 2022
  • Type of financing: (re)financing

After a long-term collaboration, Orchard Finance was appointed by Peinemann in 2021 as a financing advisor to support the family business with the renewal, extension and increase of the lease and credit facilities for the further growth of the company.

The Peinemann Mobilift Group (popularly referred to as “Peinemann”) is the business partner and service provider in the world of vertical and horizontal transport.

Peinemann is originally a Rotterdam family business, founded in 1954 in Rotterdam by the Peinemann family and has grown into a one-stop-shop with more than 850 employees and branches all over the world. Started with the rental of forklifts and personnel in the port of Rotterdam and over the years has grown into a full service provider. Peinemann rents and sells a wide range of equipment and offers maintenance and personnel services.

The combination of an extensive rental fleet and additional services enables Peinemann to meet various needs. At Peinemann, the focus is on thinking along with the customer and building long-term relationships. From generation to generation, the Peinemann family has been involved in sustainable entrepreneurship in order to invest in people and the environment in the long term. Peinemann’s customers consist of internationally operating companies as well as larger regional players active in various industries.

Peinemann had various credit agreements that no longer fully matched the organizational structure. Together with Peinemann, we mapped out the financing needs, the required flexibility and the conditions that fit the working method and further growth of the company. Subsequently, Orchard helped Peinemann draft the financing request for existing and potential financiers and then guided the entire process until closing in June 2022.

In the interest of all parties, the mutual security position of the various (lease) financiers has been further optimized. The new and increased financing agreements will enable further growth of the company in the coming years. The financing consists of bilateral agreements with several banks, of which the relevant conditions are aligned.

The growth of Peinemann made it necessary to review the financing agreements. In addition to the request for more financing, this process also gave us the opportunity to optimize agreements.

For example, by making things more efficient and eliminating unnecessary complexity. Orchard has helped us very well in this process: from thinking along with the formulation of the basic principles, up to the negotiations and the final contract phase. We are very pleased with the outcome and the important role Orchard played in this.

JOHN DE REUS
CFO PEINEMANN

Orchard strives for a long-term relationship with its clients. We are therefore very happy with our relationship with Peinemann, in which we have been involved as a consultant for 10 years.

Successful companies with a good market position and current assets are particularly interesting for asset-based financiers. Due to the extensive preparation and substantiated financing request, the financiers are prepared to offer tailor-made solutions that match the company structure, working method and wishes of Peinemann.

ERIC DOLMANS
SENIOR ASSOCIATE ORCHARD FINANCE