Beechbrook Capital has completed its first three investments from its most recent fund, Private Debt III.
The fund’s first transaction was to provide growth financing in support of H2 Equity Partners’ investment in Multi Pilot Simulations, a designer and manufacturer of flight simulation training devices based in Groenekan in the Netherlands.
The second transaction was for D&D London, the luxury restaurant, bar and hotel group based principally in London and whose restaurants include Quaglinos and Coq d’Argent. Beechbrook provided a mezzanine loan to part-refinance LDC’s and the management’s shareholder loans.
The third investment was a mezzanine loan to part-refinance senior debt and provide operational finance for engineering services business Nucore Group, a Lonsdale Capital Partners portfolio company, which has its headquarters in Scotland and serves clients worldwide.
A final close on Private Debt III is scheduled for June or July 2017.
Beechbrook Capital founding partner Nick Fenn says: “The first three investments in Fund III are strong credits and score highly against Beechbrook’s criteria. Deployment of the fund is on schedule.”
Beechbrook has also promoted Sandeep Agarwal, Tim Johnston and Mensah Lambie to partner.
Agarwal and Lambie both joined Beechbrook in 2008 and are responsible for sourcing, executing and monitoring investments for the firm’s private debt funds. Prior to joining Beechbrook, Agarwal worked at ICICI bank in corporate credit where he was responsible for structuring and monitoring cross-border acquisition financings and other structured loans. Before Beechbrook, Lambie spent three years with Goldman Sachs in the debt capital markets and leverage finance teams in New York and London.
Johnston works on sourcing and managing investments for Beechbrook’s UK SME Credit Fund. He joined Beechbrook in 2009 having spent six years in audit and corporate finance at PwC, including a secondment to Bridgepoint Capital, followed by three years in the mezzanine finance team at Intermediate Capital Group.
Beechbrook founding partner Paul Shea says: “Sandeep, Mensah and Tim have all made important contributions to Beechbrook’s success and their promotions are well deserved. We are confident that they will play valuable roles during the next stage of the firm’s development.”
