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Unquote
  • UK / Ireland

UK - Glitnir joins CIT on £75m debt for Betts deal

  • Sarah
  • 09 November 2007
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Glitnir has joined CIT Leveraged Finance as mandated lead arranger in the £75m debt package to fund the £110m secondary buyout of toothpaste tube manufacturer Betts Global Ltd by Gresham Private Equity. Syndication is expected to launch this week.

Gresham Private Equity acquired Betts from Permira, Royal Bank of Scotland and the Bank of Scotland last month. Permira acquired Betts for £82m in 1998. Betts is a global market leader in manufacturing toothpaste tubes supplying companies such as Colgate Palmolive, GlaxoSmithKline, Procter & Gamble and Unilever.
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