Pemberton, a specialist European private debt manager transforming traditional credit markets, backed by one of Europe’s largest insurers, Legal & General Group PLC, has provided financing to support two bolt-on acquisitions by Cupa, the largest producer of natural slate in Spain and a distributor of roofing materials in the UK, backed by The Carlyle Group.
Cupa has acquired Rinus Roofing, an independent UK distributor specialising in roofing materials, and Proinor, a producer of natural slate in Spain. The acquisitions are the latest steps in Cupa’s expansion plan and will consolidate its leading position in the slate market. As an existing lender to Cupa and having worked closely with The Carlyle Group, Pemberton were able to successfully secure the financing within just six days.
Pemberton supported Cupa’s bolt-on acquisitions of Rinus Roofing and Proinor through its Mid-Market Debt strategy. Other recent deals via this strategy include supporting CapVest’s acquisition of IPN, and the refinancing of Astoria. Pemberton has expanded its footprint in Spain since opening an office in the region in September 2020.
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