Silverfleet Capital held discussions with more than 15 banks in its bid to secure a debt package for its €212.5m ($302.5m) buyout of German sausage case manufacturer Kalle, it has emerged, in a sign banks remain reluctant to back new private equity deals.

The UK mid-market firm approached between 15 and 18 banks and "had to work very hard" to secure financing of more than half the value of the deal, according to one source close to the process.