In October 2022, Pricoa was informed by Lannutti’s advisor about the Company’s financial needs and search for a long-term investor ahead of M&A plans. Following the introduction, Pricoa started working on a possible capital support plan.
In May 2023, we closed a $100 million, 3-year multi-currency Revolving Shelf Facility with an initial draw up to €10 million Senior Unsecured Notes. The proceeds were used to: i) support the acquisition plan and ii) for general corporate purposes.
Lannutti decided to partner with us given our i) relationship-oriented and pragmatic approach, ii) possibility of further draws within tight deadlines to finance M&A activities, and iii) international alternative to local banks offering longer maturities and flexible amortizing schedules.
We are proud to call Lannutti a partner and we look forward to supporting the business as it continues to execute on its aspirations in the years to come.