
Kartesia backs £26m refinancing for BGF-backed Clearway
BGF portfolio company The Clearway Group has secured a £26m refinancing package from Kartesia.
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).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater