Wed 08/17/2022 08:05 AM
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Incumbent lender Barings has teamed up with new lender Park Square and granted a unitranche and an acquisition line leveraged at below 5x to support Astorg’s acquisition of Belgian provider of insulation products and services IPCOM, sources told Reorg.

The company reached a valuation multiple of north of 10x and was marketed off EBITDA of €50 million to €56 million, sources added.

The deal was previously proposed to be all-equity after leverage levels were tightened to 4.25x from an
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