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Field Fisher Waterhouse LLP has advised Lloyds Banking Group on its investment and support of the Business Growth Fund’s £4.25 million investment of growth capital in independent travel management company, Statesman Travel Group.
Lloyds, a shareholder of the Business Growth Fund which was established to help Britain’s fast growing smaller and medium sized businesses, introduced Statesman to the Business Growth Fund and supported the investment with an injection of additional funds and by establishing a debt facility. The funding will enable Statesman’s strategic acquisition of travel management company Commodore International Travel, with the combined entity creating one of the top 10 UK travel management companies in terms of transactional volume, with revenues nearing £100 million.
Finance Group head Andrew Evans led on the deal, assisted by solicitor Anthony Warner and tax associate Jennifer Martin. DLA Piper advised the Business Growth Fund and Collyer Bristow and Smith & Williamson advised Statesman Travel.
Andrew Evans said: “Lloyds Banking Group played a key role in this investment deal, demonstrating the significant relationship between banks and SMEs. Our experience advising global banks on funding corporate acquisitions, with our long-term relationship with Lloyds, ensured this crucial acquisition completed successfully for all parties.”
Fieldfisher’s 13-partner Finance Group advises global investment and domestic banks, asset managers, investment funds, financial institutions, industry bodies, sovereign entities and ultra high net worth individuals on a range of international and domestic finance matters. The Group’s extensive experience on the funding of corporate acquisitions combined with its commercial approach can assist both borrowers and lenders.
For further press information please contact:
Louise Eckersley, PR Manager, Field Fisher Waterhouse LLP on +44 (0)20 7861 4120