In July 2020, PCP IV signed a EUR 30 million loan agreement with the STRAX Group.
STRAX was founded in Miami and Hong Kong in 1995 and has since grown to become a global mobile accessories company marketing third party products as well as its own brands e.g Urbanista, CLCKR, Richmond & Finch and Xqisit. STRAX has over 200 employees in 12 countries with its operational HQ and logistics centre based in Germany while being listed on the Nasdaq Stockholm Stock Exchange
PCP is very familiar with STRAX, its management team and main shareholders having worked closely together as its lender from 2010 to 2015.
The financing provided by PCP will be used to fund working capital growth as well as refinancing existing senior debt package.