GB Credit Partners Completes Ideal Standard Financing
GB Credit Partners announced that it has entered into a €6 million ($8.3 million) financing transaction with Ideal Standard International, a provider of bathroom solutions. Based in Brussels, Belgium, Ideal Standard International is principally owned by Bain Capital, the Boston-based investment management and financial services company. The transaction is supported by machinery & equipment located in the UK and Germany, as well as Real Estate located in the UK.
GB Credit Partners utilized the internal expertise of its affiliate, Gordon Brothers Europe, to analyze and determine the underlying values of Ideal Standard’s assets. Based in London, Gordon Brothers Europe was established over 15 years ago and provides asset and property valuations, restructuring and disposition expertise, financial resources and due diligence for firms across the European Union.
“We are pleased to provide Ideal Standard with additional liquidity as they continue a restructuring of their business,” commented Lawrence Klaff, a managing director with GB Credit Partners. “We effectively leveraged the expertise of our overseas affiliate, Gordon Brothers Europe, in finding a financing solution for Ideal Standard and we look forward to supporting the ongoing operations of the Company.”