After several years of challenging economic conditions, the appetite for financing acquisitions continues to grow with new deal activity finally looking set to overtake the volume of refinancing transactions.
Increased competition for the best credits between traditional bank lenders and direct lending funds and, in some cases, tie-ups between the two, has seen continued pressure on pricing, gradual increases in leverage and more imaginative and flexible structures. The landscape is no longer dominated by senior only deals with the rise of unitranche and the return of mezzanine, second lien and high yield, prized borrowers are spoilt for choice.
We have years of experience advising on the funding of corporate and business acquisitions. Our clients include banks, direct lenders, other finance houses, private equity sponsors and borrowers. The breadth of our client relationships enables us to see issues from all angles and enables us to provide dynamic, innovative and pragmatic advice.
Whilst we can advise on all types of acquisition finance transactions, our focus is on bespoke transactions in the mid to upper mid-market space. We are particularly proud of our specialist expertise in the technology and innovation space and in life sciences where we work closely with our Corporate, Technology, Outsourcing and Privacy, Intellectual Property and Life Sciences groups.
Notable deals / highlights
Acting for a specialist bank in connection with the provision of senior term loan facilities for the purpose of financing the management buyout of a large group of telecommunication services companies with a particular focus on multi-tenanted buildings.
Acting for a specialist bank in connection with the provision of senior, mezzanine and revolving credit facilities for the purpose of financing the management buyout of a leading talent management agency which provides management and professional services for TV, music, literary and sports clients.
Acting for Bidco on the cross-border leveraged buyout of a leading luxury care home provider involving senior and mezzanine facilities.
Advising the senior management team of an independent clinical services company on the secondary buy-out and sale by the company's private equity owners to a US private equity fund.