Acofi Gestion became Sienna Private Credit, subsidiary of Sienna Investment Managers, a pan-European player in real assets management.

For further information, please read the press release

20 may 2022

Sienna Private Credit announces €22.5 million financing for the HBG Group

Sienna Private Credit (formerly Acofi Gestion) is pleased to announce the closing of a bond financing transaction for HBG Group, helicopter operator consisting of several subsidiaries based in France and Switzerland (Mont Blanc Hélicoptères, Hélicoptères de France, Swift Copters, Eagle Valais). This €22.5 million, 6-year instrument is intended to fund a fleet of helicopters operated by various operational subsidiaries, thereby optimising the Group’s debt.

Credit for this financing is due to the Sienna Private Credit team’s expertise in collateralised debt, an instrument particularly well suited to the needs of European SMEs and MSEs in highly capital-intensive sectors.

The bond is also the latest investment of the Predirec ABL-2 fund, completing the latter’s deployment of financing for European SMEs/MSEs backed by tangible assets (machinery, inventory, real estate).

Sienna Private Credit, which is currently raising its third generation of corporate finance funds, is continuing this investment strategy. Predirec ABL-3 will offer SMEs significant financing for to up to 7 years, guaranteed by high quality collateral. Financing will be based on a sustainable “impact” approach that is quantified and controlled by the inclusion of incentive clauses.

Renaud Blanc, Chairman & CEO of HBG Group said: “HBG Group is thrilled to have partnered with Sienna Private Credit for this transaction, which was made possible by their structuring capacity, responsiveness and expertise in the field of asset financing.”

Laurence Choisy Lemesle, manager of the Predirec ABL-2 fund, shared: “We are pleased with the completion of this new transaction, which has enabled HBG Group to reorganise its medium and long-term financing thanks to an AssetCo model which provides a solid base to support the group’s development going forward. We are particularly proud to accompany an operator that provides a large range of public utility oriented services : Emergency Medical Service (EMS), wildfires, helicopter maintenance (state or civil), power lines, gaz, passenger transportation, training school, etc. ”