May 31, 2019

Financing for Expansion and Digitalization in Elevator Systems

North Channel Bank Supports Medium-Sized Company Vestner Aufzüge GmbH

North Channel Bank is the financing partner of Vestner Aufzüge GmbH. The bank supports the company from Dornach near Munich, which is successful in the elevator industry, in the refinancing of the acquisition of Advantage Doors Services Ltd. of New Zealand as well as in the financing of working capital for the digitalization of elevator systems.

Opportunity of Growth for International Family Enterprise

“We are very interested in enabling growth and innovation, especially in medium-sized companies,” says Harald Zenke, Managing Director of North Channel Bank GmbH & Co. KG. “Therefore, we are pleased to be able to support Vestner Aufzüge GmbH, which we have come to know as a future-oriented enterprise.”

This financing will enable Vestner Aufzüge GmbH, an internationally active company, to develop innovative solutions and set new standards in the field of digitalization of elevator systems. “I experienced North Channel Bank as an “ENABLER”, securing operational liquidity with individually coordinated financing and supporting the intended growth strategy,” confirms Simon Vestner, Managing Director of Vestner Aufzüge GmbH.

North Channel Bank GmbH & Co. KG was founded in 1924 as the privately owned bank Bankhaus Oswald Kruber, located in Berlin. In 2009, a group of North American investors with expertise in the US Life Settlement sector acquired the bank and renamed it North Channel Bank. In the following years the bank developed into one of the leading institutes in US Life Settlement financing. 2013 with the acquisition of its affiliate NorthStar Life Services, LLC, Irvine, California the bank gained direct access to and influence on a reliable, experienced and renowned service provider. Today, in addition to financing, the bank also offers investments in US Life Settlements. In the structured finance division the bank focuses in particular on financing in the renewable energies sector, (especially equity interim financing), capital goods financing, and acquisition finance.

About Vestner Aufzüge GmbH: The company which was founded in 1930 and has its domicile in Dornach near Munich is managed by Paul and Simon Vestner in the second and, respectively, third generation. The approximately 10,000 customers in Europe benefit from economic system solutions, cutting-edge technology, and professional services of a committed staff of 300. www.vestner.de