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Angerlehner Group finances market expansion with mezzanine capital

Angerlehner Hoch- und Tiefbaugesellschaft mbH, a company specialising in the renovation of sewers and pipes and based in the Austrian town of Pucking near Linz, will continue on its path to international success in 2009. In order to support the company's further expansion plans – particularly in Asia – and to meet its increased requirements for equity capital for project financing, Mezzanin Finanzierungs AG is investing EUR 3 million in mezzanine capital.

The international success of Angerlehner Group is mainly based on years of developing the company, investing in research and development, and thus gaining a position of technological leadership in the field of sewer and pipe renovation without excavation. International contracts amounting to some EUR 44 million are currently underway, and Angerlehner Group plays a major role in additional projects totalling EUR 17 million. The volume of contracts abroad is likely to increase to well over EUR 100 million in the near future. In addition to sewer renovation, the company constructs sewage treatment plants and is also active in the classic field of civil and structural engineering.

"The determining factor in our decision to invest in Angerlehner Group was the company's extremely promising growth potential along with its technological advantage. In addition, we were impressed by the company's competitive market position and its management," says Martin Steininger, a member of the Managing Board at Mezzanin Finanzierungs AG, describing the reasons for the mezzanine capital fund's latest investment. In order to fund its expansion, Angerlehner Group required increased external financing. This made it necessary to strengthen the company's equity base so that it could maintain its equity ratio. Angerlehner has achieved this without the financial involvement of existing or new shareholders by means of the invested mezzanine capital.

Mezzanin Finanzierungs AG
Mezzanin Finanzierungs AG is the first bank in Austria specialising in mezzanine capital. The company's assets under management amount to EUR 100 million, some 64 per cent of which is already invested or committed. Mezzanin Finanzierungs AG finances expansion and acquisition projects for rapidly growing medium-sized companies in Austria and neighbouring countries. It provides mezzanine capital in the form of secondary, uncollateralised bullet loans that cannot be terminated in the case of economic declines. The capital from Mezzanin Finanzierungs AG represents equity capital for banks providing financing, which helps to improve their creditworthiness. BA Private Equity GmbH provides Mezzanin Finanzierungs AG with support in the fields of marketing, controlling and fundraising.

You can receive more detailed information from:
Martin Steininger, Member of the Managing Board
Mezzanin Finanzierungs AG
Tel: +43 (1) 513 41 97; ms@mezz.at

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