Suzo-Happ raises 185 mln euro loan for Scan Coin buyout-Reuters


(Reuters) – Machine component manufacturer Suzo-Happ is raising 185 million euros of leveraged loans to back its acquisition of Swedish peer Scan Coin and refinance existing debt, banking sources said on Friday.

US private equity firm Acon acquired Suzo-Happ in 2012. With the acquisition of Scan Coin, Suzo-Happ will grow its European presence.

Barclays is leading the deal and a bank meeting is due to take place on Feb. 4 to show the financing to investors.

Proceeds will back the buyout and refinance 85 million euros-equivalent of existing debt held between both companies, the banking sources said.

The financing comprises a 165 million euro, six-year term loan B and a 20 million euro, five-year revolving credit facility. Pricing will emerge at the bank meeting, the banking sources said.

US-headquartered Suzo-Happ supplies components for coin operated devices in sectors including gaming, retail and transportation. Scan Coin manufactures and supplies change machines and other cash handling equipment.