The saga of beleaguered waste management company Biffa was finally brought to an end last week with the agreement of a debt-for-equity swap. Such a classic tale of an over-leveraged private equity deal going sour is, as ever, popular with the papers, but how did things get so bad at Biffa?
Deal is the first investment for the GP's recently opened Midlands office
Deal ends a five-year holding period for Cornerstone, which acquired Infoniqa SQL in 2012
Craig Hopwood joins the GP's northern team from HSBC, where he was a director
Lexington was previously reported to be considering acquiring up to €1.2bn in secondary commitments