Kirkland Advises Maxeda DIY on Comprehensive Recapitalization Transaction
Kirkland & Ellis advised Maxeda DIY Group, the largest DIY retailer in the Benelux region, on its c.€500 million comprehensive recapitalization transaction via consent solicitation. The transaction closed on March 24, 2026. The transaction significantly strengthens the Group’s balance sheet and further secures its working capital and liquidity position, allowing Maxeda to deliver its long-term strategic and operational objectives. As part of the transaction, certain funds and accounts managed by GoldenTree Asset Management LP made a substantial new €50 million junior capital investment to become majority shareholder of Maxeda on closing.
Other highlights of the transaction include: a significant deleveraging with pro forma net leverage of 3.0x; a consensual amendment and extension of senior secured notes due 2026 into new senior secured notes due 2031; and a consensual amendment and restatement of the existing super senior revolving credit facility to extend the maturity of the facility until 2030.
Read the transaction press release
The Kirkland team included capital markets lawyer Antoine Lebienvenu; restructuring lawyers Thomas Jemmett, Hannah Crawford and Sarah Ullathorne; debt finance lawyers Kirsteen Nicol and Adrian Kilercioglu; corporate lawyer James Hunn; and tax lawyers James Morgan and Anthony Sexton.
