Banks Receive Guidance from Allen & Overy in Successful Officium Refinancing
The syndicate lenders, comprising Kommunalkredit Austria AG, National Australia Bank Limited, and Skandinaviska Enskilda
Banks Receive Guidance from Allen & Overy in Successful Officium Refinancing
The syndicate lenders, comprising Kommunalkredit Austria AG, National Australia Bank Limited, and Skandinaviska Enskilda Banken AB (publ) Frankfurt Branch, were advised by Allen & Overy in the successful refinancing of Officium GmbH (Officium) for a total amount of EUR 83.5 million.
The newly syndicated financing encompasses both a term loan and a working capital line. It is intended to refinance current liabilities, while also providing capital for expansion and acquisitions.
In January 2023, Arcus, an infrastructure investor, acquired Officium - a prominent independent submetering provider in Germany.
Officium specialises in the long-term rental of submetering equipment and associated services, which are used to measure heat and water consumption within multi-dwelling properties.
The company functions as a management firm for a network of regional submetering companies spread across Germany, primarily concentrated in regions such as Berlin, Brandenburg, Lower Saxony, North Rhine-Westphalia (Düsseldorf and Duisburg), Mecklenburg-Western Pomerania, Saxony-Anhalt (Dessau-Roßlau), Saxony (Dresden and Chemnitz), Thuringia, and Bavaria (Lower and Upper Franconia).
Officium's customer base primarily comprises small and medium-sized property management companies and private landlords. The company manages more than one million measuring devices.
Dr. Walter Uebelhoer, partner, and Dr. Rauni Ahammer, senior associate, both from the Banking & Finance team in Munich, led the Allen & Overy team. They were joined by Dr. Laura Frömel, an associate from the same team in Munich, as well as Dr. Heike Weber and Dr. Manuel Köchel, partner and associate respectively from the Tax team in Frankfurt.
Additionally, Partner Frank Mausen and Associate Eugène Welter, both from the Banking & Finance team in Luxembourg, provided advice on matters related to Luxembourg law.