Acquisition Finance In The Netherlands: Law, Practice, Trends And Developments

1. Market

1.1 Major Lender-Side Players Market Players

The Dutch acquisition finance market is traditionally divided into three market segments based on debt quantum, being:

• small (up to approximately EUR30 million) – often lent by traditional (Dutch) commercial banks and on a bilateral basis (and increasingly by a direct lender);
• medium (from approximately EUR30 million up to approximately EUR250 million) – often lent by a direct lender or a club of (Dutch) commercial banks; and
• large (in excess of EUR250 million) – often lent by larger syndicates consisting of ((non-) Dutch) commercial banks (or direct lenders).

Over the last few years, the Dutch acquisition finance market has become crowded in terms of the number of debt providers active in the small, medium and large financing space. Even though traditional commercial banks are still active, direct lenders (often private credit funds) have grown their market share in the Netherlands. New direct