Jack Wolfskin is now owned by a consortium of investors and hedge funds. The largest new owners will be Bain Capital Credit, HIG / Bayside Capital and CQS, who collectively hold more than 50 percent in Jack Wolfskin. They will provide Jack Wolfskin with 25 million euros in the form of a super senior loan, strengthening the company’s liquidity position. Reactions can be read here
Private equity company Blackstone has reached an agreement to hand over Jack Wolfskin to senior debt holders in a debt for equity swap. The outdoor apparel brand found a solution in its financial restructuring process: “By reducing liabilities to its lenders, the company will obtain a debt cut of 255m euros, thereby reducing its liabilities from 365m euros to 110m euros, with maturity extended to 2022“.