Trustmarque completes £19.5m refinancing

The refinancing process was handled by the debt advisory team at Livingstone Partners. Additional capacity for acquisitions was also included in the refinancing package.

Dunedin backed the £43m management buyout of the firm in June this year, attracted by the predicted 2-5% growth in the UK market for IT services. The GP acquired the asset from LDC, which backed the firm in 2006.

Company
Founded more than 25 years ago and based in York, Trustmarque provides technology services and solutions to private and public sector organisations in the UK. The firm enables organisations to license, deploy and manage technology solutions from a range of developers.

The firm recorded revenues in excess of £130m for the year ending on 31 August 2012.

People
Mark Ligertwood is a partner at Dunedin. Tom Green is director of HSBC Leveraged Finance and worked on the deal with James Scholes, associate director. Bill Troup is managing director of debt advisory at Livingstone.

Advisers
Equity – Livingstone Partners, Bill Troup (Debt).
Debt (HSBC) – Eversheds, Kathryn Walters, Paul Chanter (Legal).

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• Topics
• UK / Ireland
• Technology
• Restructuring
• United Kingdom
• Dunedin
• Refinancing