HC Partners has successfully raised debt financing for the acquisition of AQ Group

February 2024 — HC Partners, a Netherlands-based private equity firm, has raised debt financing for its acquisition of the HVAC installation business AQ Group. The financing was provided by ING and Aegon Asset Management. The tailored debt package provides the necessary flexibility in accordance with HC Partners’ vision and AQ Group’s foreseen growth trajectory.

AQ Group is a market leader in the specialized maintenance and optimization of HVAC installations in the Netherlands. Established in 2002, the Utrecht-headquartered company offers a wide range of specialized services, including cleaning, disinfection, inspection, optimizations and modifications of HVAC installations, as well as more integral system upgrades and retrofits. AQ Group mainly operates as a subcontractor, with its principal clients being primary service providers, such as BAM, Unica and Spie.

HC Partners is an independently-managed private equity firm headquartered in Amsterdam, the Netherlands. It has a strong track record as a partnering shareholder in supporting entrepreneurs and management teams grow their companies, both organically and through buy-and-build strategies. The firm invests in small and medium-sized companies in promising sectors in the Benelux region.

Our role in the transaction

Oaklins’ team in the Netherlands assisted HC Partners in securing the optimal financing package for this transaction, which complements a long list of private equity transactions Oaklins has advised on.