Duke Street's Marlin secures £80m senior credit line

The senior credit line is structured as a three-year revolving facility. Investec has previously funded the business, while Royal Bank of Scotland is a new creditor.

Duke Street acquired a majority stake in the company in April 2010. The transaction was valued at £50-60m.

Company
Marlin is a British speciality finance business based in Worthing. It buys and manages consumer debt, specialising in litigation-based debt recovery.

Over the past 12 months, the company invested profitably in £100m worth of non-performing consumer loans in the UK. The company is projecting EBITDA of £30m, EBIT of £11m and turnover of £50m for 2012.

People
Simon Hamilton of Investec and Marc Sefton of RBS led the refinancing. Ken Stannard is CEO of Marlin. 

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• Topics
• Restructuring
• UK / Ireland
• Financials
• Royal Bank of Scotland
• Investec
• Duke Street
• United Kingdom
• Refinancing