Niederer Kraft Frey advised Luzerner Kantonalbank acting as agent and the syndicate of banks on all aspects regarding the amendment of the existing financing for HOCHDORF Swiss Nutrition AG (HSN) in the context of the acquisition of HSN by AS Equity Partners. The sale of HSN to AS Equity Partners took place during the moratorium (Nachlassstundung) of the listed HOCHDORF group and formed part of the respective restructuring efforts.

HSN is a Swiss market leader in milk processing, specialising in infant nutrition, powder and mixing technology for milk-based and alternative proteins. AS Equity is a Switzerland and UK-based financial investor with a specialised investment focus on technology companies in special situations, which provides the opportunity to enhance HSN’s international potential, while committing to maintain and develop its previous business strategy.

The NKF team was led by M&A/Finance partners Ulysses von Salis and Adrian Koller, working with junior associate Géraldine Küderli (all M&A/Finance).