UK - BOSIF backs secondary buyout of Mono Global

Mono provides a range of facilities management and infrastructure support services to the telecoms industry for the acquisition, design and construction of base stations across the UK. Mono operates from 5 sites across the UK, employing over 150 staff and boasts a client base which includes Vodafone, O2 and Siemens.

Mono has been a client of the bank since August 2002, when Bank of Scotland Corporate assisted in financing the BIMBO of James Barr Telecoms Holdings Ltd and the telecoms division of Ingenco Ltd. 3i Group Plc invested £5.2m for a 49% equity stake with the Bank providing a £5m debt facility. The secondary buyout sees Bank of Scotland Corporate provide an integrated debt and equity package of c.£10m. Management increase their equity stake to 80% with the bank investing for a minority equity stake in the Company.

Ken Lewandowski, CEO of Mono, leads the highly experienced and well regarded management team. Commenting on the deal, Ken says: 'This is an exciting and challenging time for Mono, and for the company, Bank of Scotland’s Integrated Finance is the ideal supportive partner to help us take the business forward. We very much look forward to working closely with them in the future.'

Alan Ross, director of the integrated finance, Scotland team at Bank of Scotland Corporate, added: 'Mono is a clear market leader operating in a niche market. We are delighted to be delivering continued support to a locally based, highly successful company who is a well respected client of the Bank.'

Management were advised by Deloitte & Touche LLP (financial) and Dickson Minto WS (legal). Bank of Scotland Corporate was advised by Dundas & Wilson LLP (legal).

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• Topics
• Buyouts
• UK / Ireland
• Technology