NewsA&O Shearman advises the lenders on the financing of ITIS Holding’s acquisition of VITRONIC Machine Vision

A&O Shearman is pleased to announce that it has advised Raiffeisen Bank International AG (RBI) and a syndicate of lenders on a EUR 110 million financing package for ITIS Holding, a PPF Group company. The financing supported ITIS Holding’s acquisition of VITRONIC Machine Vision, a German provider of innovative machine vision systems for traffic engineering, logistics, automotive, healthcare and 3D body scanning.
The financing comprised a term loan, a revolving credit facility and a guarantee facility, with RBI acting as coordinator and mandated lead arranger. The other lenders were Československá obchodní banka a. s., KBC Bank NV,  Komerční banka a.s., and HSBC Continental Europe S.A., Germany.
The cross-border A&O Shearman team, which was responsible for English law advice and acted as lead counsel, comprised counsel Attila K Csongrady (Bratislava) and senior associates Jana Marsalkova (Prague) and Peter Redo (Bratislava). The German law aspects were handled by Frankfurt-based team led by partner Thomas Neubaum with support from counsel Jan Hendrik-Bode, senior associate Can Altan and associate Anastasiya-Evangelina Wiegand.
Valentin Ballabani, Corporate M&A Finance Lead at Raiffeisen Bank International AG, said: “We are very happy to support ITIS Holding and PPF Group in this strategically important acquisition. We very much appreciated working with all transaction parties and were thoroughly satisfied with A&O Shearman’s legal advisory services.”
Attila K Csongrady added: “We are delighted to have worked with an outstanding RBI team in delivering another landmark transaction for a leading CEE sponsor group. The strategic acquisition brings together two innovative companies, creating a powerhouse in intelligent machine vision, traffic, infrastructure, and automation solutions. The financing package offers a flexible and tailored solution for the acquisition and will support the company’s growth and development. We congratulate all the parties on this milestone achievement.”