Praesidian Capital Europe Invests First Lien Debt to Support the Buyout of PlanetHome Group from UniCredit Bank
London – July 6, 2015 – Praesidian Capital Europe, a leading provider of senior and subordinated debt and growth capital in the United Kingdom and Europe, announced today its first lien debt investment alongside a group of private investors to acquire PlanetHome Group (“PlanetHome”), a Munich-based provider of real estate and mortgage brokerage services in Germany.
Praesidian Capital Europe provided the requisite first lien debt in support of the buyout by a group of private investors who bought PlanetHome from its original owners, UniCredit Bank AG, a leading bank in Germany and a subsidiary of UniCredit SpA, a major pan-European financial institution.
Founded in 2000 and headquartered in Munich, PlanetHome is a leading provider of real estate and mortgage brokerage services for financial institutions in Germany and Austria. The company has since grown as a standalone business employing over 500 people in more than 80 locations and generating sales of €58 million.
PlanetHome’s real estate brokerage business is among the key players in its markets and serves as the intermediary between buyers and sellers to effect key origination and completion processes. PlanetHome differentiates itself by having the largest nationwide network of employed brokers for residential real estate in the country and utilizes its strong partnership with leading, national banks to generate leads.
The company’s mortgage brokerage business provides business outsourcing services to more than 200 financial institutions. PlanetHome’s model allows for flexibility in providing part or all aspects of mortgage brokering. Since its inception it has brokered a mortgage volume exceeding €10 billion.
“We are excited to have found such an interesting and compelling opportunity in the German market. The investment broadens our geographic portfolio as well as underlines our investment mandate to support mid-sized business in their growth plans,” stated Christian Heidl, Partner of Praesidian Capital Europe. “PlanetHome has delivered stable growth over the past five years, and we see great potential for further expansion as an independent business.”
According to Jason Drattell, Founder and Managing Partner of Praesidian Capital, “This is a unique opportunity that shows great promise. We are pleased that our vision for Praesidian Capital Europe is being realized in this new venture in Germany.”
About Praesidian Capital Europe
Praesidian Capital Europe is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to established lower middle market businesses in the United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in private small and mid-sized companies, often in connection with management buyouts, recapitalisations or refinancings. Praesidian manages nearly $1 billion in committed capital through various funds. For more information, visit www.praesidian.com.
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