Patrimonium Middle Market Debt Fund has provided growth financing to Thomas-Krenn.AG, a leading German server and storage system manufacturer.
Patrimonium Middle Market Debt Fund, a private credit fund of Patrimonium Asset Management AG (“Patrimonium”) focused on middle market companies, has provided debt financing to fund the growth of Thomas-Krenn.AG (“TK”), a portfolio company of VM Capital GmbH (“VMC”).
VMC, a single-family office, acts as an entrepreneurial and medium-sized investor with a decades-long focus on growth-intensive companies with particular potential for value appreciation. TK is a leading German manufacturer and provider of customized server and storage systems. The company has evolved from a small online shop run by a two-man operation into a prominent European manufacturer serving SMEs, large corporations, and public institutions.
Earlier this year, TK entered a joint venture with the purpose of establishing environmentally friendly data centers that comply with stringent GDPR regulations. This partnership plans to launch over 15 data centers across Europe in the coming years, all equipped with TK’s advanced server technology.
The capital provided by Patrimonium will enable TK to accelerate the production of its customized server solutions and ensure the timely delivery of the data centers. The financing package strengthens TK’s position as a leading German server manufacturer and supports its establishment as a sustainable, decentralized and locally integrated data center operator in Europe.
Johannes von Neumann-Cosel, Senior Director of Patrimonium Private Credit, comments: “This transaction highlights Patrimonium’s ability to provide bespoke and flexible financing solutions to support mid-market entrepreneurs and their companies’ growth as well as our strong commitment to ESG.”
Patrimonium was advised on the transaction by Ashurst LLP (Dr. Tobias Krug and Sabrina Bremer), while VMC was advised by Carlsquare Ltd. (Daniel Gebler) and Gütt Olk Feldhaus LLP (Dr. Tilmann Gütt).