Clearwater International advises Altawest on raising €42m of debt

Clearwater International has advised Altawest on the refinancing of its existing debt, and raising a significant amount of finance for its future growth.

Created in 2005 by its manager and majority shareholder Philippe Garelli, Altawest is the holding company of Jeumont Electric, Leroux & Lotz and Inova. The group is a key industrial player, acting as a technology developer, original equipment manufacturer, and services provider for the environment and energy markets.

Financing of €42m has been provided by LCL and Banque Populaire Grand Ouest, and supported by CIC Nord Ouest, Crédit Agricole Atlantique Vendée and Arkéa. This new debt structure also includes capex facilities to support the group's growth strategy as well as a revolving credit facility (RCF) to finance short-term requirements.