Kartesia backs £26m refinancing for BGF-backed Clearway

The direct lender has arranged a financing package comprising term loans and a capital expenditure/acquisition facility, which will be used to refinance existing debt facilities and international acquisitions.

The debt has been invested from Kartesia Senior Opportunities I, marking the fund’s first UK investment.

Negotiations and execution took place largely under lockdown, according to a statement.

Previous funding
BGF invested £10m in Clearway Group in April 2018 to enable it to complete two acquisitions.

Santander also backed the company by providing a £13m debt facility. The funding was used to acquire Cerberus Security and Monitoring Services, a Leeds-based security business, and Protim, a Paris-based void property services company.

Company
Clearway Group specialises in providing technology-led services to monitor and protect vacant properties in the UK and France. Headquartered in London and founded in 1991, the company reported an operating profit of £232,276 in 2018.

People
The Clearway Group - Ian Quinlan (CEO).
Kartesia - Nick Holman (director); Toon Van Coillie (analyst).

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