Corsair's Notemachine in third refinancing

Alice Murray
21 October 2014

Tweet
Facebook
LinkedIn
Google plus
Send to

Notemachine, backed by Corsair Capital, has undergone a ТЃ120m refinancing supported by Ares Management and GE Capital, marking its second refinancing this year.

The facilities were provided by Ares' and GE's joint venture, the European Senior Secured Loan Programme. The deal marks the fund's 10th investment, having deployed a total of €1bn since inception in 2012.

Notemachine secured £76.5m of unitranche financing from GE and Ares in February this year. Furthermore, when it was backed by previous owners Rutland Partners, the company completed a £63m refinancing, with a senior debt package provided by GE Capital, Barclays and European Capital.

Previous funding
Corsair acquired Notemachine in a secondary buyout from Rutland Partners in August 2012.

According to unquote" data, Rutland had delisted Scott Tod from AIM in 2006, via the Notemachine newco.

Company
Established in 2006, Notemachine owns and operates automated teller machines across the UK and Germany.

People
Mike Dennis is partner in the direct lending group at Ares. Howard Sharp is head of origination and sponsor coverage at GE Capital. Mike Kingston is finance director at Notemachine.