Noerr advises Noerpel Group on refinancing of syndicated credit facility and conversion into an SE

A team from Noerr led by Alexander Schilling has advised the transport and logistics group on entering into a EUR 139 million syndicated credit agreement. Another team headed by Thorsten Reinhard previously provided the group with advice on the legal aspects of its extensive reorganisation.

The new funding replaces the debut syndicated credit facility the Noerpel Group used to switch its funding from a bilateral financing structure to syndicated financing in 2019. The purpose of the syndicated credit agreement is to refinance the existing syndicated credit facility, finance general working capital and fund investments and acquisitions. A Noerr team under Alexander Schilling also advised the logistics group when it entered into the debut syndicated credit agreement.

In advance of the new financing, a team led by Thorsten advised the Noerpel Group on implementing its goal of simplifying the group’s structure. To this end, a range of operating units were combined into a societas europaea (SE) in a complex series of conversion and transfer steps.

Another team led by Frankfurt-based M&A partner Reinhard already advised the Noerpel Group early this year on its acquisition of forwarding company Georg Graßl GmbH. Noerr assists the group in connection with acquisitions on a regular basis.

The Noerpel Group is one of Germany’s leading transport and logistics service providers, with 3,700 employees. It recently generated annual turnover of EUR 710 million.

Advisors to Noerpel SE: Noerr

Team lead: Alexander Schilling (partner, Banking & Finance), Marius Fischer and Maria Bozhenova (both associates, Banking & Finance, all Frankfurt)

Thorsten Reinhard (partner, Corporate, Frankfurt), Ralph Schilha (partner, Corporate), Sebastian Seier (associated partner, Corporate, Munich) and Jens Göb (senior associate, Capital Markets, Frankfurt)

Boris Blunck (partner, Employment & Pension, Frankfurt)