UK - RBS backs secondary MBO of PSCA
Royal Bank of Scotland's Total Capital Finance division has backed the secondary management buyout of PSCA International, a provider of publications, media information and events to the public sector, from Aberdeen Asset Managers for an undisclosed sum.
RBS supplied a complete funding package to support the transaction, with the Total Capital Finance team providing a combined equity and mezzanine package and the Corporate & Structured Finance team providing senior debt. The deal was led by the management team, led by CEO Gordon Warrender.
PSCA, which was founded in 1999, produces a range of titles on a monthly, quarterly and annual basis, including Public Servant Maganine and The Defence Management Journal. The company has offices in Manchester, Birmingham and Edinburgh, employing more than 160 people, and generates turnover in excess of £12m.
Aberdeen backed the original management buyout of the company in 2002.
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