Clearwater International has advised the management team of leading distribution business The Pallet Network (TPN) on their secondary MBO, supported by existing funders LDC and HSBC, whilst also attracting additional new investment from Infinity Debt Capital Management.
Using a state of the art Hub facility and IT systems, TPN manage over 3 million pallets per annum with 98% of UK postcodes being covered on a Next Day Service. The business has a loyal and long term member base with numbers continuing to increase annually.
The current management team will continue to run the business whilst some shareholders, including CEO Adam Leonard and Chairman Roger Burdett, will take this opportunity to retire from the business.
Clearwater International advised TPN, led by partners Jon Hustler and Mark Taylor with support from director Karen Edwards.
“As a management team, we are all pleased to have the opportunity to once again commit to our future within the business. Having Infinity come onboard, along with the continued support of LDC and HSBC, demonstrates confidence in the business and is a clear sign that the existing funders believe that TPN will continue to grow into the future.”
Mark Duggan, Managing Director, TPN
“This is a great result for the management team, allowing them to take a significant interest in the business. The company is extremely well placed for continued growth and we wish the management team every success.”
Jon Hustler, Head of Industrials and Chemicals, Clearwater International
“The debt provided by Infinity Debt Capital Management represents their debut investment. It provides tangible evidence of there being an unprecedented range of capital options available to quality businesses. We expect this trend to continue.”
Mark Taylor, Head of Debt Advisory, Clearwater International