Ashurst advises Patrimonium on financing for Vorndran Beteiligungs-GmbH

Ashurst is pleased to announce that it has advised Patrimonium Middle Market Debt Fund as the lender on facilities to refinance existing financings and finance growth for Vorndran Beteiligungs-GmbH, a bespoke financing solution to support the ambitious growth plans of Thomas-Krenn.AG (TK), a portfolio company of VM Capital (VMC). Carlsquare served as the exclusive debt advisor to VMC in this transaction.

Headquartered in Freyung, Thomas-Krenn.AG is a leading German manufacturer and provider of customized server and storage systems. The company has evolved from a small online shop run by a two-man operation in a garage in the early 2000s into a prominent European manufacturer. Today, TK serves a diverse customer base, including SMEs, large corporations, and public institutions.

Earlier this year, TK entered into a joint venture aimed at establishing an operator of environmentally friendly data centers that comply with stringent GDPR regulations. The joint venture plans to establish more than 15 data centers, all of which will be equipped with TK's advanced server technology.

With the capital raised through this financing package, TK can now accelerate the manufacturing process for its customized server technology and ensure the timely commissioning of the data centers. This financing not only strengthens TK's position as a leading German server manufacturer but also positions the company for further data center projects across Europe.

The Ashurst team was led by partner Tobias Krug and counsel Sabrina Bremer. They were supported by senior associate Marie-Theres Recifo and transaction lawyer Ariana Fazlic (all Global Loans, all Frankfurt).