Formel D secures long-term financing to support its growth strategy
Cologne, December 5, 2022. Formel D, a globally active service provider for the automotive and supplier industry, has successfully concluded a comprehensive refinancing package of €179 million. The financing has been significantly extended for four years, which provides Formel D with planning security for the continuation of its strategic development.
Gian Mario Deligios, CFO of Formel D, said: “With the successful refinancing, we are in a solid financial position to continue to actively accompany the transformation of the automotive industry. The refinancing on attractive terms in a challenging market environment is a sign of confidence in our strategy and the performance of Formel D. Our business plan is fully-financed for the coming years and our focus is on the implementation of our strategy.”
In recent years, Formel D has established itself as a global partner to the automotive and supplier industry, safeguarding and improving its customers’ quality requirements and targets across the entire value chain. In 2020, Formel D initiated a process of further strategic development to continue to expand this position in a rapidly changing market environment. The company has continued to develop in a targeted manner, particularly at the process and operational level as well as with regards to its service and product portfolio. The long-term, stable financing structure secured now provides Formel D with the required financial flexibility to take advantage of profitable growth opportunities in the future.