Associated Continuity Teams (ACT Clean) has secured private investor backing for a GBP10.2 million management buyout – a significant deal that signals a new cycle of growth and energy for the specialist outsourcing company of kitchen porters, night cleaning and housekeeping. Founded in 2006, ACT Clean has grown swiftly, alongside the expansion of upmarket hotels and restaurants in London, and is now the market leader in its luxury niche. Its impressive, long-term client base ranges from Michelin-starred and prestigious restaurant groups to well-known hotel marques through to the Royal Household.   Focussing on the provision of fully managed and supervised

Barings has acted as mandated lead arranger of a senior secured credit facility to support Battery Ventures' portfolio company Forterro. Forterro is a group of European enterprise resource planning (ERP) software companies serving small- to medium-sized enterprises across a variety of sectors.   The company will use the credit facility to refinance existing debt and to fund the acquisition of BPSC, a Polish provider of ERP software solutions for manufacturing, wholesale and retail customers.   "Battery Ventures appreciates the contributions of Barings' European private finance team in supporting Forterro on these strategic growth initiatives," says Morad Elhafed, partner at Battery

One of Enstar Group’s wholly-owned subsidiaries has signed an agreement to reinsure RSA Insurance Group UK’s employers’ liability legacy business. Enstar’s subsidiary will assume gross insurance reserves of approximately GBP957 million (approximately USD1.2 billion), relating to 2005 and prior year business, which primarily consists of UK employers’ liability reserves.   Net insurance reserves are approximately GBP834 million (approximately USD1.0 billion) and the reinsurance premium payable to Enstar’s subsidiary is GBP799 million. The transaction is subject to finalising and effecting certain security arrangements.    Following the initial reinsurance, which will transfer the economics of the portfolio up to the policy’s limits, the parties

Céréa Capital II has completed its fourth investment, participating in the reorganisation of the capital and financial structure of GPS Group, in partnership with Bpifrance and the company's management. Based in Bordeaux, GPS Group is specialised in industrial packaging logistics, used for the transport of viscous or liquid materials such as natural and synthetic rubber as well as food products. It provides a complete and outsourced lease concept for reusable metal crates, including delivery, maintenance and logistics at producer's plants.   Created in 1950, the family business, presided by Benoit Arnaud, first began as a wooden pallet and crate manufacturer,

Law firm Noerr has advised Scout24 on the closing a new syndicated loan facility. Noerr’s Frankfurt partners Andreas Naujoks and Dr Torsten Wehrhahn provided the team lead in this deal.   The Munich internet group Scout24, which had its IPO a year ago, is replacing its previous syndicated loan facility granted by an international banking consortium three years before expiry of its regular term and is with this refinancing deal securing new credit lines of EUR800 million at much more attractive conditions.   This unsecured syndicated loan facility also provides sufficient flexibility for further acquisitions, enabling Scout24 to further expand

Noerr has advised Novelis, a specialist in rolled aluminium products owned by India’s Hindalco Industries, on the refinancing of its USD1.8 billion term loan B line still existing after its acquisition by Hindalco. The refinancing and restructuring transaction was handled by an international banking consortium under the lead of the British Standard Chartered Bank, for the first time with the involvement of numerous Asian, particularly Indian, banks.   The term of the refinancing transaction is five and a half years.   The Novelis Group was advised on German law by Noerr’s lawyers Sebastian Bock (partner) and Dr Ivan Zlatanov on

Between July and December 2016, Platina Energy Partners successfully restructured with Unicredit (London Branch) circa EUR100 million of non-recourse long-term financing, originally used to finance a 20 MW photovoltaic portfolio, consisting of three operational projects located in mainland Spain. The financial restructuring of the portfolio will allow the optimisation of the financing structure and improve cash flows.   "Platina is delighted to have closed this debt restructuring with Unicredit – London Branch,” says statement from the company. “Due to a number of changes in the laws affecting the PV sector in Spain, the financial health of these plants was seriously challenged and

Independent Growth Finance (IGF), a commercial finance provider for SMEs, has provided a GBP3 million confidential invoice discounting facility to oil and gas exploration consultancy firm, EPI Group. This facility enables EPI to implement its diversification strategy into new services alongside its continuing geographical expansion.   EPI has 30 years’ experience in delivering exploration and production consultancy services to the oil and gas industry, supporting clients with their seismic surveys, environmental projects and wellsite operations. Headquartered in the UK, it has offices in the US, Australia, Russia, France, Ghana and South America.   Through the recent acquisition of geoscience consultancy,

An affiliate of New Water Capital Partners, a Boca Raton-based private equity investment firm focused on lower-middle market companies, has recapitalised KL Outdoor, a US-based manufacturer, designer, and marketer of branded outdoor lifestyle/recreational and outdoor events products. The company’s product lines include kayaks, stand-up paddle boards, canoes, paddle boats, hunting blinds, sleds and portable restrooms as well as related accessories.   KL Outdoor goes to market under several brands including Sun Dolphin, Evoke, Extent and Third Coast (all related to the company’s watersports segment), Terrain (outdoor hunting products) and Five Peaks (portable restroom products).   Headquartered in Muskegon, Michigan, KL