Finance platform Lendable has secured a USD550,000 debt financing for Raj Ushanga House (RUH), the Kenya distributor for Azuri Technologies, a provider of pay-as-you-go (PayGo) solar energy solutions. Using a data driven “receivables financing” solution, capital is secured by future customer revenues from a portfolio of over 7,000 RUH PayGo solar customer contracts, and is the first such financing by Lendable for a PayGo energy company.   Raju Haria, CEO of Raj Ushanga House, says: “The debt financing from Lendable marks an exciting chapter for RUH. It enables us to reach more customers and finance their ownership of these assets.

CVC Credit Partners’ US middle market private debt business acted as administrative agent on a first lien senior secured debt facility provided to Wastewater Specialities (WWS).  The proceeds were used to refinance existing debt and support future growth through equipment purchases.    Headquartered in Lake Charles, Louisiana and employing over 300 people, WWS is a provider of industrial and specialty cleaning services to over 500 industrial, marine, oilfield and commercial customers. The company was acquired in December 2014 by Polus Capital and management.     David Rous, managing director in CVC Credit Partners’ private debt business, says: “We are delighted to

GBfoods has partnered with Helios Investment Partners, an Africa-focused private investment firm, to create one of Africa’s largest fast moving consumer goods (FMCG) businesses. GBfoods Africa Holdco, a joint venture owned by GBfoods and Helios, has acquired assets from different African companies including leading brands such as Jumbo (bouillon), Gino and Pomo (tomato paste), and Jago (milk powder and mayonnaise), as well as Bama (mayonnaise) distribution rights for Africa.   This will result in a pan-African culinary products company with presence in over 30 African countries.   GBfoods chief executive, Ignasi Ricou, says: “GBfoods has a long history operating in

Kirkland & Ellis is advising Bank of America Merrill Lynch, as financial adviser, in connection with Hillhouse Capital and CDH led funds’ proposed privatisation of Belle International by way of a scheme of arrangement. Belle International is engaged in manufacturing, distribution and retailing of shoes and footwear products, and the sales of sportswear and apparel products.   At a cancellation consideration of HKD6.30 per share, the total share capital of the company is valued at HKD53.1 billion (USD6.8 billion). The transaction was announced on 28 April 2017.   The Kirkland team is led by Hong Kong corporate partners Nicholas Norris

Investec has provided a GBP75 million debt package to support Allied Glass Containers’ growth plans. The Yorkshire-based specialist manufacturer and distributor of glass bottles and containers to the premium spirits and food & beverage sector produces 600 million bottles per annum across 450 product lines.   Investec invested time with management and put together a bespoke debt structure comprising a mix of asset-based and cashflow lending to support the company’s long term growth, working capital and seasonality requirements.   The package incorporates a blend of evergreen revolvers against receivables and inventory as well as an amortising term loan, as opposed

Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a unitranche facility to support the future growth of Priority Ambulance, by private equity sponsor Enhanced Equity Funds. Based in Knoxville, Tennessee, Priority Ambulance provides emergency and nonemergency medical transport to the communities it serves in Tennessee, Alabama, New York, Arizona, Indiana, Georgia and South Carolina.   Throughout its national footprint, Priority Ambulance operates approximately 400 emergency and nonemergency vehicles staffed by more than 1,600 licensed paramedics and EMTs. Priority’s ambulances are equipped with the latest medical equipment and technology. 

Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a unitranche credit facility to support the 50-50 joint venture of Gas Station TV (GSTV) and Verifone Pump Media. GSTV is owned by Rockbridge Growth Equity and Falcon Investment Advisors.   Based in Detroit, Michigan, GSTV is the largest national video network reaching active consumers. The company delivers one-on-one exposure to hundreds of millions of viewers every month at the nation’s leading gas stations across the US.   Verifone Pump Media is a subsidiary of Verifone, a world leader in payments and commerce solutions. The

An affiliate of New Water Capital Partners, a Boca Raton-based private equity investment firm focused on lower-middle market companies, has completed its recapitalisation of Montreal-based GSC Technologies, a manufacturer of kayaks, watersports equipment and storage and outdoor furniture products. “GSC offers leading North American retailers a great product suite of kayaks, paddle boards and accessories under strong brands, with feature-rich designs and attractive price points,” says New Water partner Mark Becker.   Family-owned GSC features the Future Beach brand, as well as other paddle sports brands, including Equinox, Patriot, Heritage, and Viper. Additionally, GSC produces branded storage and outdoor furniture products. Company production facilities include a combination of company-owned and -operated manufacturing locations and outsourced manufacturing partners across the US and Canada.

PNC Bank has closed a USD100 million senior secured revolving credit for Apache Industrial Services, a portfolio company of Quantum Capital. PNC Capital Markets led the syndication as sole lead arranger, and PNC Bank is serving as administrative agent.   Based in Houston, Texas, Apache Industrial Services provides a suite of services including scaffolding, coatings and linings, refractory, fireproofing and insulation to critical infrastructure. Apache serves the petrochemical, agricultural chemical, refinery, power generation, offshore energy and general industrial markets.   Apache will use the funds, in part, for its acquisition by Quantum, to refinance existing credit facilities, and to provide