Wednesday, November 6, 2024
The Siempelkamp Group has successfully concluded its first syndicated financing agreement, securing €250 million and marking a shift from bilateral to syndicated financing. This strategic move, supported by a consortium of banking partners, reflects the strong confidence in Siempelkamp’s growth and innovation-focused strategy, despite a challenging economic outlook.
The financing arrangement is led by established partners Deutsche Bank and Commerzbank, with participation from LBBW Landesbank Baden-Württemberg, Bayern LB, and UniCredit. This collective backing not only provides Siempelkamp with enhanced financial flexibility but also supports the company’s efforts in technological transformation and market expansion.
Commenting on this milestone, CEO Martin Scherrer stated: “In times of generally cautious economic forecasts, we’re consistently investing in our transformation and the expansion of our technology leadership for the benefit of customers, partners, and employees. Siempelkamp has operated successfully in global markets for over 140 years, securing lasting customer confidence. The fact that we have convinced our banking partners of the strength of our vision and strategy in the current climate is a testament to our ability to sustain and grow our success.”
CFO Martin Sieringhaus expressed gratitude for the confidence shown by the banking consortium: “We’re delighted that our banking partners are joining us on the path towards a successful future. This financing means we are well-equipped to invest in the transformation of our organisation, our digitalisation strategy, and growth within both established and new markets.”
With this new financing arrangement, Siempelkamp is positioned to strengthen its leadership in technology and further its commitment to innovation, setting a foundation for continued success in the years ahead.
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