While deals leveraged at more than 6x are still in the minority, debt advisory firm Marlborough Partners has warned that the current scope of the ECB leverage guidelines could end up impacting transactions with more modest levels of term debt.
Fresh capital will be used to launch the service in the US and open an office in New York
Current management team will stay with the business as it moves to new ownership
Baird Capital and VR EquityPartner both made an exit in the sale after a 12-year holding period
Deal closes a four-year holding period under OpenGate, which acquired the firm in 2014