NEW YORK (May 23, 2025) – Holland & Knight advised ArtCap Advisory Services Ltd. (ArtCap) as sole lead arranger and administrative agent, as well as the lenders, on an acquisition finance transaction consisting of a senior secured term loan and a revolving credit facility of approximately $50 million. The transaction closed on May 8.
The financing was made to GrandBay Group for the acquisition of 100 percent of the outstanding capital stock of Blue Tissue S.A.P.I de C.V., a Mexican company specializing in the manufacturing and commercialization of tissue paper products. The acquisition also includes the purchase of certain real estate assets by Blue Tissue. The senior term loan facility included Tranche A and Tranche B loans, both denominated in U.S. dollars and Mexican pesos. The obligations were guaranteed by BTC Paper S.A.P.I. de C.V. and secured through certain pledges, mortgage agreements and a trust governed by Mexican law.
ArtCap is a direct lending platform that primarily invests in private credit transactions across Latin America and the Caribbean.
GrandBay is a leading player in the manufacturing, conversion and commercialization of high-quality personal care and home paper products across multiple markets throughout Latin America and the Caribbean.
Holland & Knight's representation of ArtCap was led by Partner Stephen Double, Associate Maria De Bedout and International Law Clerk Lucia Viboud Aramendi. They were assisted by Partner Robert J. Friedman (Executive Compensation & Benefits) and Partner Alan Schwartz (Tax). Co-counsel on the deal included Mijares, Anogitía, Cortés y Fuentes S.C. in Mexico.