Inflexion's Kynetec undergoes refinancing
Inflexion-backed agriculture- and animal-health-focused market research company Kynetec has secured a refinancing from Lloyds Bank Commercial Banking.
The refinancing was designed to free up capital to allow Kynetec to invest in international expansion and product development.
At the time of Inflexion's initial investment in the company, the GP was deploying capital from its fourth buyout fund, a £650m vehicle that closed in October 2014 and provides equity tickets in the £15-75m range.
Inflexion declined to comment when approached by unquote" for information on the reasoning behind the refinancing.
Previous funding
Inflexion carved out Kynetec from GFK, a Frankfurt-listed market research company, in November 2015. The buyout saw Inflexion invest alongside the existing management team.
Company
Headquartered in Newbury, Kynetec is an animal-health- and agriculture-focused data analytics and market research company. The company has operations in 21 countries across Europe, the Americas and Asia Pacific regions. It conducts research across 70 countries.
According to Inflexion, Kynetec generated $41m of sales in 2015.
People
Kynetec - Peter McDowell (finance director).
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