SME debt finance platform, CODE Investing, today announced its biggest deal to date, arranging a finance package to fund a £25m management buy-out of a global construction contractor.
The finance package – taken from application to completion in less than three months – includes term debt and multiple asset-based lending lines. In addition to the buy-out, the newly aligned management team will use surplus funds to consolidate the firm’s international presence.
Crucially, CODE secured a number of multi-million-pound credit-approved offers from a range of banks and specialist ABL providers, as well as unsecured debt from an institutional lending partner. This gave the client a wide range of options to progress their buy-out.
CODE Investing also introduced the management team to the relevant professional advisers required to help deliver a complex transaction such as this, including corporate finance specialists, Keystone Partners.
Chris Roberts, head of transactions, CODE Investing, commented:
“This was a highly complex deal that required careful structuring and coordination with several parties, so to complete on the package in under three months was an achievement for all involved. Our guiding principle throughout was to align management and vendor interests to ensure the continued growth of the business in the most tax-efficient way possible. We look forward to delivering the same positive results for other business owners seeking a staged exit.”
Ayan Mitra, CEO, CODE Investing, added:
“This was a textbook example of how we like to work, securing not just a range of finance options for our client but introducing them to all the advisers necessary to the transaction. And while this may be CODE Investing’s biggest finance package to date, our ambition and current deal pipeline suggest it won’t be for long.”