Heuking advises FEUER powertrain on private debt fund financing

A team led by Michael Neises, Partner at Heuking Kühn Lüer Wojtek’s Frankfurt office, advised FEUER powertrain GmbH & Co. KG on taking out a secured EUR 40 million loan. The lender is a private debt fund advised by H&A Global Investment Management (HAGIM), which was legally advised by Latham Watkins LLP.

The successfully concluded refinancing also allowed the Thuringian crankshaft manufacturer to redeem the remaining tranches of a syndicated loan and to significantly increase its financing flexibility over the next five years.

Heuking’s legal advice included advising the borrower on drafting and negotiating the loan agreement, the security trust and intercreditor trust agreement, and the associated collateral agreements.

Based in Nordhausen/Thuringia, FEUER powertrain group is a leading manufacturer and distributor of crankshafts used in passenger car, industrial motor, ATV, and agricultural machinery applications. FEUER powertrain has continually expanded since its establishment in 2002.

FEUER powertrain group operates production plants in Germany and the U.S. The company has an annual capacity of up to 2.5 million crankshafts.

Counsel to FEUER powertrain
Heuking Kühn Lüer Wojtek:
Michael Neises (Lead),
Christian Staps,
Michèle von Lewinski,
Lena Wagner, all Corporate Finance, all Frankfurt am Main