The affiliate company now decreases its financial expenses by €200,000 per quarter.

Raketech said it has prioritised optimising its capital structure by settling existing loans and securing more suiting and favourable bank financing.

The company signed an agreement with Swedbank in December for a revolving credit facility of €10m.

Andreas Kovacs, CFO at Raketech, said: “To have successfully cleared our former loan facility is a milestone for Raketech’s finance strategy. We now have optimal conditions to carry out additional acquisitions, with lower financial expenses over time.”