Clearwater International advises Vanguard Healthcare on refinancing transaction


Clearwater Advisor

Press Release

Vanguard Healthcare Solutions has raised €20.9m in a debt refinancing deal with high street bank AIB, in a transaction advised by Clearwater International.

Vanguard provides additional capacity through the provision of mobile surgical facilities – including operating theatres, endoscopy suites, mobile wards and clinics – to the NHS and private healthcare providers in the UK and abroad. The company has performed strongly throughout the past decade, with its growing fleet of 40 units in use around the UK and Europe.

The refinancing of the existing debt facilities will significantly reduce the company’s cost of capital and decrease annual debt service by almost €2.5m. The refinancing will also allow capital to be made available for investment in new units and services.

Clearwater International’s Debt Advisory team advised Vanguard Healthcare, leading the refinancing negotiations for the company and raising senior debt facilities.

“With the world’s largest fleet of mobile healthcare facilities, Vanguard Healthcare is a fantastic business, considered invaluable to the UK healthcare system. However, the business has found itself being hampered by its capital structure. This refinancing will provide the opportunity for the company to achieve its true international potential and we are pleased to have played an integral role in seeing its ongoing success.”

Chris Smith, head of Debt Advisory at Clearwater International

“This deal is great news for Vanguard, giving us the freedom to develop at a crucial time and we’re delighted with the expert advice and guidance provided by Clearwater International throughout the process. Their support proved invaluable in structuring the right deal, with a new partner, that truly fits the needs of the business. I wouldn’t hesitate to recommend Clearwater International and look forward to working with them again in the future.”

Ian Gillespie, Chief Executive at Vanguard Healthcare