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Member-News

November 23, 2019 / TRACOE medical GmbH
Major milestone for the future: TRACOE medical closes syndicated financing arrangement with Commerzbank AG

New construction project, refinancing – TRACOE medical, the family-run business from Nieder-Olm – one of the leading manufacturers of medical devices for tracheostomy and laryngectomy patients – and the XTR Group, its parent company – have reached a major milestone for the future. The holding company successfully closed a syndicated financing arrangement with Commerzbank AG for 17.5 million euro with a maturity period of up to 10 years. With this holistic financing concept, TRACOE medical intends, on the one hand, to set the course for further growth with the new construction and the purchase of logistics premises in the business park – and, on the other hand, to facilitate working capital financing and refinancing of the XTR Group. Stephan Köhler, principal shareholder of the XTR Group and managing director of TRACOE medical: “TRACOE medical and its parent company are characterised by positive corporate development and a stable business model. We needed a holistic financing concept to ensure that this is still the case in future and that we also have the spatial capacity for further growth. We are delighted that we have now been able to achieve this with a strong partner and take this significant step towards a successful future”. Jürgen Schmieding, branch manager, Mittelstand Rhineland-Palatinate of Commerzbank AG: “We are delighted to have been able to help shape the development of one of the region’s global players like TRACOE medical and to develop, together with them, a sustainable financing solution”.

It has taken approximately a year to complete the entire project. In a syndicated financing arrangement or club deal, several banks joined forces for the joint provision of a loan under uniform conditions. In this case, Commerzbank AG acted as the lead arranger, who with the Postbank and the Frankfurter Volksbank succeeded in getting two further renowned financial institutions on board as consortium partners and lenders. The XTR Group were advised during the process by RGT Consultants (Frankfurt am Main), who have many years’ experience in managing financing processes for medium-sized enterprises.

New construction and purchase of logistics premises

The most important of the XTR Group’s individual measures for financing, which in addition to TRACOE medical also includes KAPITEX from the United Kingdom, MC Europe from the Netherlands and TRACOE Austria, is the new construction of the company head office in Nieder-Olm. But, in addition to this, financing at group level also ensures flexibility and growth opportunities as part of the buy-and-build strategy, i.e. for the development of XTR through further additional acquisitions, for example. Stephan Köhler: “The solution provides us with stability and guarantees us a secure future, thus allowing us to concentrate fully on our operational business and to develop and produce innovations for the treatment of seriously ill patients”. The new company head office should be ready for occupancy by early 2023. The building permit for this is expected to be granted in the course of next year.

Quality standard as a practiced philosophy

This development is based on years of experience, extensive market knowledge, expert product and manufacturing know-how, the proximity to its users and patients and the sense of responsibility as an employer of currently 220 staff. But what was and still is crucial for the success of the company is the “made in Germany” principle. “Our products are all carefully crafted by hand, a quality feature that sets us apart from the competition and that our customers value all over the world”, said Dr. Thomas Jurisch, also managing director of TRACOE medical GmbH.

TRACOE medical was founded 60 years ago and has been in operation at the Nieder-Olm site for 20 years. The company exports its premium medical devices to 86 countries all over the world and has a workforce of around 220 employees, thus making it one of the major employers in Nieder-Olm.