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Hutton Collins refinances Windsor

Hutton Collins Partners has refinanced its portfolio company Windsor Limited, a Lloyds insurance broker. 

The new senior debt facilities, provided by Clydesdale Bank, have enabled Windsor to repay the substantial majority of the capital used to finance the management’s take-private of the company in 2007. 

Hutton Collins, which provided GBP15m of preferred equity capital to support the management buyout, will remain a shareholder. Management will retain its 78 per cent shareholding.

Douglas Oppenheim, partner at Hutton Collins, says: “This successful refinancing in a difficult lending market demonstrates the strengths of Windsor’s business model. A large part of the earnings growth reflects the empowering nature of the deal structure which allowed so many people across the company to acquire equity in their business. We expect Windsor to go from strength to strength and look forward to continuing to support John Bennett and his team going forward.”
 
John Bennett, chief executive officer of Windsor, adds: “This refinancing is a major milestone for Windsor. We are delighted to have repaid much of the capital invested in taking our company private in 2007. We are proud of our growth, which is the result of much hard work by people in difficult market conditions. Windsor is well set for the future and we are excited by the opportunities that lie ahead.”

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