Lloyds Bank Commercial Banking has added director Dave Furlong and associate director Kate Grimoldby to its North of England acquisition finance team.
The appointments will support the origination and execution of mid-market leveraged financings, including buyouts, bolt-on acquisitions and re-financings, with private equity firms and companies across the North West, Yorkshire and the North East.
Furlong, who has 10 years’ industry experience, joins from HSBC where he was deputy head of leveraged finance for the North of England, arranging facilities to support sponsor-led deals across the three regions. Prior to this he held director and associate director roles in HSBC’s leveraged finance team.
With six years’ structured finance experience, Grimoldby arrives from RBS having been a director in the northern corporate transactions team, responsible for executing leveraged deals. She was previously an assistant director in RBS’ Manchester-based structured finance division.
The pair will report to managing director and head of acquisition finance in the North of England Neil Price. Grimoldby joined the team in July 2013, while Furlong’s appointment is effective of mid-September 2013.
Price says: “The North of England is home to a number of well-capitalised sponsors which are actively investing. The emergence of new entrants and the several recent successful fund-raisings further illustrate the appetite for growth funding in the North West, Yorkshire and the North East.
“Dave and Kate’s combined experience in financing mid-market private equity deals across the regions will be an important asset as we aim to reinforce our strong position in the North. Their ability to hit the ground running will also be vital given the high volume of investment activity and continued appetite for leveraged debt to support it.
“Having provided funding to some of the highest profile buyouts in the North West, Yorkshire and the North East in recent years, Dave and Kate’s appointments re-affirm our ongoing commitment to these markets.”
This year to date Lloyds Bank Commercial Banking has been amongst the most active leveraged debt providers in the North, supporting deals including the ECI-backed secondary buyout of Leeds-based Amber Travel (March 2013) and the LDC-backed management buyout of Lancaster-based Angus Fire (July 2013).
