The acquisition has been financed through an Environmental, Social and Governance (ESG)-linked syndicated term loan B placed with institutional investors in the European leveraged loan markets, the first of its kind for an Astorg-backed company.
Sustainability and ESG are at the heart of Corialis’ business model: through its material of choice, aluminium, Corialis has developed an exceptional product range that benefits from best-in-class sustainability features with ESG being embedded in the whole production processes – the logistic needs are minimal thanks to Corialis’ single-roof business model, energy and water consumption are continuously reduced, key hubs are ISO-certified, ESG is embedded in procurement and the company is closely monitoring and improving health & safety.
Corialis will seek to apply any respective cost savings on margin towards sustainability investments.
Wim Flo, Chief Financial Officer of Corialis, says: “Corialis will be one of the earliest adopters of this unique financing within its sector, and by incorporating ESG-linked ambition, we are fully aligning Corialis’ program with Astorg’s ESG commitments.”
François de Mitry, Managing Partner at Astorg, adds: “We were impressed by Corialis’ passion for sustainable construction products and by their efforts to bring ESG to the fore in the industry. As part of our partnership, we aim to continue supporting the management team’s focus on these areas, and this inaugural financing further strengthen our combined commitment.”
Read more/Source: Private Equity Wire
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.