HIG WhiteHorse, a credit affiliate of investment firm HIG Capital, has arranged and provided a GBP28.4m unitranche debt financing for Kelvin Hughes, a supplier of maritime navigational data and a designer and manufacturer of surveillance radars and navigation systems.
With the new support of HIG WhiteHorse and continued support of its majority shareholder ECI Partners, Kelvin Hughes will be further leveraging its position as a supplier of maritime navigational data and continue developing radar solutions globally.
Appu Mundassery, managing director at HIG WhiteHorse, says: “We are pleased to support Kelvin Hughes with a financing package that allows the business to grow, unencumbered, to the next stage. Kelvin Hughes has fantastic products and we are proud to support such a strong management team, allowing them to broaden their product offering and reach.”
Ken Lindsay, a managing director of ECI Partners, says: “HIG WhiteHorse have been supportive, pragmatic and helpful in their approach to the refinancing and we look forward to working together with them.”
Russell Gould, chief executive officer of Kelvin Hughes, says: “We are pleased to have chosen HIG WhiteHorse as a supportive financing partner. Kelvin Hughes will benefit enormously from this new relationship and the new structure will allow the business to develop further its global platform and build on its already established reputation for technical innovation.”
