Beechbrook backs Simply Biz and N-Sea

Greg Gille
06 January 2014

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Beechbrook Capital has made two new mezzanine investments via its second fund, backing support services business Simply Biz and sub-sea infrastructure services provider N-Sea.

Beechbrook held a first close for Beechbrook Mezzanine II on €67m in May last year – the GP is aiming for a second close by April. Beechbrook Mezzanine II has a target size of €100-120m.

Beechbrook has now made three investments from the fund since first close; the vehicle is 35% invested based on current commitments. The GP focuses on investments in companies with an enterprise value of €10-100m across a range of industries in the UK and northern Europe.

Both mezzanine loans will be used for acquisition finance purposes: Simply Biz is looking to make a corporate acquisition in order to expand its range of products and services, while N-Sea has acquired a UK competitor.

Launched in 2002 and based in Huddersfield, Simply Biz provides compliance and business support to more than 5,000 financial advisers throughout the UK.

Based in the Netherlands, N-Sea is a portfolio company of Dutch GP Value Enhancement Partners, which backed the business in 2011. The company is an integrated sub-sea services provider offering a range of services within the oil and gas, renewable energy, cable and dredging industries.