Complex transaction to support acquisition

The HCR team, led by Harry Bengough with Mark Carter from Real Estate, advised a bank and its invoice finance and assets finance subsidiaries on the provision of a market-leading banking package to an established provider of creative, data, direct mail and transactional document services based in the East Midlands.

The finance package enabled the acquisition of another leading commercial printer to take the total group turnover to c£80m.

The complexity of the transaction was increased significantly by the use of a blended capital structure, employing invoice finance, asset/equipment finance, investor debt and a second lien term facility.

The team advised the bank on its principal finance documentation and on structuring the complex intercreditor arrangements.