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London, England – Private equity firms KKR and Goldman Sachs Capital Partners are providing 100 million Euros in new funding for Kion, the German forklift truck manufacturer, according to reports.

Kion is to use the capital as part of a deal with investors to ease the terms of its 26 billion Euro net debt, which is held by over 200 investors. The new funding will be provided under the same terms as the company’s existing senior debt.

The deal was announced to lenders this week, alongside a new business plan for the company and a request to reset covenants in order to avoid any potential breach thereof later this year. Kion wishes to reset the terms of its debt, arguing its sector has struggled greatly in the economic downturn.

Read the full story at altassets.com.

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