KCP backs WHP Projects

The Royal Bank of Scotland provided a term loan and a revolving credit facility to support the future working capital requirements as part of the transaction.

The fresh capital will be used to support the rollout of the 4G network, consolidate estates and share masts to improve mobile phone coverage across the UK.

Company
Based in Warrington, WHP provides end-to-end services for the deployment, upgrade and maintenance of mobile network masts, antennae and base stations for operators including Deutsche Telecom, Orange and Everything Everywhere.

The company reported a turnover of £9.2m for the year ending 31 May 2012, while the same period this year has generated £17m in revenues. WHP employs 105 staff and also has sites in Wakefield and Bellshill.

People
Peter Armitage is a partner and Mark Buttler is a director at KCP. Armitage joins the board as a non-executive director. David Goldie is WHP's non-executive chairman. Rob Potter is managing director of WHP. Stuart Watson is a director of the corporate transactions team at Royal Bank of Scotland.

Advisers
Management – Convex Capital, Chris Froggatt, David Gardner (Corporate finance); JMW, Chris Moss (Legal).
Equity – BDO Stoy Hayward, Chris Heatlie (Financial due diligence); DWF, Nicola Frost, Alastair Mackinnon (Legal); Analysys Mason (Commercial due diligence).

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