PIA financially secured
Under the leadership of Commerzbank, the PIA Automation Group, a global automation specialist, has signed a syndicated financing of € 165 million.
With 10 locations worldwide, PIA Automation is an internationally established group of companies offering technically complex and economically attractive automation solutions. In the process, customer-specific assembly, measuring and testing systems are developed and manufactured for the automotive, electronics and consumer goods industries as well as for the areas of medical technology, pharmaceuticals and renewable energy. PIA’s range of service extends from manual assembly workstations, to fully automatic production systems, to smart Industry 4.0 solutions.
The automation industry operates in a very dynamic environment, where it is necessary to react quickly to changing requirements and customer demands. Under these conditions, syndicated financing offers a high degree of flexibility within the financial structure, which is tailored precisely to the specific needs of the company. The combination of various bilateral loans under standardized terms creates medium to long-term financing security, which the PIA Automation Group now utilizes.
"The PIA network can access the closed syndicated financing of 165 million euros quickly and with flexibly. Thus, PIA is financed in the long term and is stable for the future", reports Jürgen Ziegler, Managing Director (CFO) of the PIA Group. In addition to Commerzbank, syndicated financing includes Bayerische Landesbank, Bank für Tirol and Vorarlberg AG, Raiffeisen-Landesbank Steiermark AG, Steiermärkische Bank, Sparkassen AG, Erste Group Bank AG, BKS Bank AG and the Zurich Insurance branch with Germany involved. "The financing has a term of three years, with a renewal option for up to two more years", continued Jürgen Ziegler.
"With regard to the involvement of the most important financial partners of the PIA Automation Group in Germany and Austria as well as in the insurance industry, we have set up a real lighthouse project with all eight institutions involved", says corporate client advisor Frank Schneider, who is in charge of the project at Commerzbank. "We are looking forward to this achievement, which guarantees the PIA Group financial stability for further development over the next few years."