Barings acted as mandated lead arranger of a senior secured, multi-currency credit facility to support Battery Ventures continued buildout of its process-measurement platform through its acquisition of Rotronic.
Swiss-based Rotronic develops and manufactures humidity- and temperature-measurement and monitoring solutions used in manufacturing and other industrial processes. The firm joins Battery’s Process Sensing Technologies platform, which also includes Michell Instruments Group and Analytical Industries.
“Battery Ventures appreciates the continued support of Barings’ global private finance group on the addition of Rotronic to the Process Sensing Technologies platform,” said Jesse Feldman, general partner at Battery Ventures. “Barings’ ability to lend into multiple jurisdictions and in multiple currencies, along with their ability to execute within a very tight timeframe, proved critical to closing the acquisition and providing a scalable financing solution that met the needs of both Battery Ventures and Process Sensing Technologies.”
Barings is a $288 billion global financial services firm dedicated to meeting the evolving investment and capital needs of its clients.