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Lenders to private equity-owned Dometic have allowed the Swedish caravan-fittings maker more time to reach a restructuring deal and have extended a standstill agreement until Aug. 28, a person familiar with the situation told Dow Jones Newswires Thursday.

Dometic, which London-based buyout shop BC Partners bought in 2005 for around EUR1.1 billion, has been in danger of breaching covenants on its outstanding loans which total between EUR600 million and EUR700 million.

Together with its restructuring advisor, KPMG, it has been in talks with both senior lenders and mezzanine investor Intermediate Capital Group PLC (ICP.LN) to come up with a rescue package.

There are three competing restructuring plans on the table: one from the lenders, which comprise 25 institutions including Mizuho Financial Group Inc. (MFG) and UniCredit SpA (UCG.MI), one from BC Partners, and one from ICG, the people said.

BC Partners declined to comment on whether it would be prepared to put more cash into the business and said in January that it has limited exposure to the company and had returned the money it invested to shareholders 18 months ago. The private equity firm has faced similar problems at some of its other portfolio companies, and just weeks ago was forced to write off its investment in Monier Group when the struggling roofing business was taken over by lenders.

-By Marietta Cauchi and Ainsley Thomson, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com