Global law firm White & Case LLP has recently played a pivotal role in facilitating a €300 million term loan for ITT Italia S.r.l., with BNP Paribas, Italian Branch, and a consortium of lenders providing the funding. The loan, which is backed by ITT Inc., aims to cover a portion of the acquisition cost of Svanehøj Group A/S and to support the ongoing operations of ITT group.
ITT Italia S.r.l., a subsidiary of ITT Inc., is publicly traded on the New York Stock Exchange and is headquartered in Connecticut, United States. With a presence in over 35 countries, ITT Inc. specialises in manufacturing highly engineered components and customised technological solutions for various sectors, including aerospace, rail, automotive, industrial, infrastructure, and energy.
Meanwhile, Svanehøj Group A/S, based in Denmark, is a leading supplier of pumps and related aftermarket services in the marine sector.
The financing arrangement was a collaborative endeavour, with BNP Paribas, Italian Branch, acting as the global coordinator, sole underwriter, mandated lead arranger, bookrunner, agent, and original lender. The group of lenders consisted of a consortium of banks, and White & Case LLP provided comprehensive legal advice throughout the transaction.
The White & Case team involved in the deal comprised a skilled group of professionals, including partners Iacopo Canino (Milan), David Dreier (New York), and Shane McDonald (London), local partner Bianca Caruso (Milan), counsel Heidi Schmid (New York), and associates Beatrice Bertuzzi (Milan), Otto Nuñez-Montelongo (Washington, DC), and Grayson Weeks (New York).
This significant financing agreement underscores the confidence of lenders in ITT Italia S.r.l. and its parent company, ITT Inc., as well as the potential of the acquisition of Svanehøj Group A/S.
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