International Debt Advisory Team
Our Debt Advisory team is very active across its geographies and has undertaken a wide range of transactions, including: acquisition finance; refinances; recapitalisations; working capital funding; capital markets and bonds; real estate; and restructuring.
Leading affordable housing provider Westleigh receives growth capital investment
Westleigh is one of the largest UK housebuilders focusing on the affordable homes market and expects sales to rise to around ¤200m by 2018. Three years ago the company employed Clearwater International to undertake a strategic review to support both its growth and succession plans in order to capitalise on this fast-growing market.
In 2016 this led to the sale of a minority stake in the business to Palatine Private Equity with debt funding provided by European Capital and AIB. The deal will now help Westleigh continue to flourish in what should remain an attractive market for many years due to the shortage of housing in the UK. Read more about this deal.
Chairman and co-founder of Westleigh Chris Beighton explained: “The strategic review led by Clearwater provided a clear direction for the business, and the key milestones we needed to reach to achieve our goals. Via attendance at board meetings Clearwater managed our transaction agenda and continued to input into our strategy. When it came to executing the deal Clearwater mobilised a diverse multi-skilled team so that private equity, debt options and wider strategic choices could be benchmarked concurrently. The team inspired us to stretch our business and go a yard beyond what we might otherwise have achieved.”
Clearwater International advises Reverse Logistics Group on €27M debt financing
Clearwater International acted as sole financial adviser to Reverse Logistics GmbH (“RLG”) on the structuring of two senior secured loan note facilities with a total volume of €27m, provided by Proventus Capital Partners, Sweden.
RLG, a portfolio company of Monitor Clipper Partners, is headquartered in Dornach, Germany and is the leading European provider of fully integrated reverse logistics, after-sales management and individual take-back solutions. RLG operates with 21 offices and 38 subsidiaries in more than 80 countries. With approximately 500 employees, RLG Group generated sales of approximately €128m in 2015. Read more about this deal.
"It’s been great working with Clearwater and having their guidance and expertise throughout the process. Clearwater added significant value through arranging an attractive, well-structured financing package to help fund the investment, and in helping us to assess our likely exit options through a commercially focused exit review. The team undoubtedly has extensive knowledge of current debt markets as well as valuable M&A experience in the specialist plant hire sector.”
John Green, Investment Director at LDC
Clearwater International advises LDC on the MBO of TXM Plant
Clearwater International has advised private equity firm LDC on the management buyout of TXM Plant.
TXM Plant, the UK’s largest supplier of road rail vehicles, has completed a management buyout to accelerate its growth and invest in its fleet. TXM Plant, which is headquartered in Milton Keynes, provides road rail vehicles and associated attachments to Network Rail and its major contractors involved in maintenance, track renewal and infrastructure projects. The business operates from nine strategically located regional depots and is able to support customers on a national basis. Read more about this deal.
Clearwater International advises chemist chain Day Lewis Group on €200m funding
Clearwater International has advised the shareholders of Day Lewis Group, one of the largest pharmacy chains in the UK and Europe, on securing €200m of investment from a number of banking partners.
The family-owned business currently owns 277 sites across the UK and is aiming to build up to more than 400 sites by 2021 alongside doubling its revenue, which was €335m in the year to 31 March 2015. The group is currently the fifth largest multi-pharmacy chain in England, employing 2,400 people, and plans to expand internationally within four years. The company has secured the €200m funding facility with potential to extend to €265m. This will enable the business to consolidate a number of sister companies into the group as well as funding acquisitions. Read more about this deal.