Sector: Banking

Deal Type: Public to Private (via MBO)

Deal Value: £undisclosed

Website: undisclosed

We were brought in to advice a UK bank on the entire underwriting of a debt-funded public to private transaction

Jonathan Massing, Managing Partner
Kingswood Corporate Finance

Our Involvement

  • Evaluation of the transaction on behalf of the lender
  • Reviewing financial projections and cash flows
  • Advising on the negotiation of an exclusivity agreement
  • Discussing internal credit issues

Overview

Our role centred on evaluating the transaction on behalf of the lender, who had no in-house corporate finance capability, and reviewing financial projections and cash flows.

As part of this process, we also advised on the negotiation of an exclusivity agreement and discussed internal credit issues and covenants attaching to an offer of debt facilities, as well as providing general financial advice.

The transaction and discussions are ongoing; a public announcement of the transaction has been made but to date no completion has been achieved due to ongoing negotiations with the independent directors.