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A team led by finance partners Robin Spender and Phil Abbott, including banking associate Aleksandra Cison and trainee solicitor Charlotte Hilton, with support from corporate senior associate Tom Ward, real estate associate Paul Olliff and tax associate Jennifer Martin, has advised the Investec Growth & Acquisition Finance team on the financing of the management buy-out of ASK4 by Darwin Private Equity.
ASK4 is a leading provider of telecommunications services, delivering WiFi, broadband and IPTV services to student accommodation buildings, private residential developments and serviced offices from its headquarters in Sheffield where it employs over 100 staff. It also operates a 180-rack tier-two data centre in the city.
The transaction involved advising Investec in relation to its secured Senior Term Loan Facility provided to the Buyer group to part fund the acquisition, and reviewing and commenting on the due diligence, acquisition and equity investment documents.
Robin Spender said: "I am extremely pleased with how the transaction went - we were able to negotiate and document this financing from start to finish in less than 10 days. This was due to the shared ability of the cross-departmental Fieldfisher team and Investec Bank's Growth & Acquisition Finance team to pull together and act quickly in order to deliver. It was a pleasure to work with the team at Investec and I wish ASK4 the very best for the next phase of its development with the support of Darwin Private Equity."
Stephen White of Investec Growth & Acquisition Finance added: "We were pleased to complete this transaction with ASK4 and Darwin Private Equity and it was good to work with Fieldfisher in order to meet what was a challenging timetable. Fieldfisher proved to be a strong partner in this respect and greatly helped to facilitate the process."