European logistics groups secure refinancing deal

A European transport group is set to expand following a major refinancing deal.

Specialist lender Leumi ABL has provided a €101 million refinancing package to Oxalis Logistics Group, whose UK headquarters are in Huddersfield, and Germany-based Tank und Silo Group. 

Both companies, owned by Munich-based private equity firm AUCTUS Capital Partners AG, are leading providers of bulk road transportation across Europe.

Bosses say the new financing will support the growth ambitions of the two groups, combining a receivables facility with a multi-asset revolving credit facility. 

John Walsh, Leumi ABL regional sales director (Yorkshire and North East), said: “The two groups of companies are market leaders in Germany and the UK for the last-mile logistics of mineral oils, transporting retail fuels, bulk gases, bitumen, aviation fuels and heating oils. 

“The management teams are incentivised to drive the group’s accelerating expansion plans while maintaining a commitment to commercial and operational excellence. 

“Leumi ABL are delighted to support AUCTUS and the two businesses as they drive further pan-European organic growth and merger and acquisition activity via this flexible, multi-jurisdiction ABL facility.”

Squire Patton Boggs advised Leumi ABL on the deal, while Hilco Valuation Services carried out receivables and collateral due diligence, ensuring a smooth process for all parties involved.

Allan Davison, Oxalis Logistics Group chief executive, added: “Over the past 12 months, Oxalis has increased both its turnover and profitability.

“This refinancing package provides a further enabler to meet our long-term growth objectives, increasing our market share across all business segments and providing increased flexibility and value to customers.”

Richard Krüger, Tank und Silo managing director, added: “This refinancing enables us to pursue our ambitious growth plans, expand our market presence in Germany and beyond, and at the same time strengthen our high standards of safety and reliability. 

“Together with our partners AUCTUS and Leumi, we aim to actively shape the dynamics of our industry and continue to provide customers with industry-leading solutions.”

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