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Beechbrook Capital reaches 50th deal landmark

14th September 2017 - Direct lender Beechbrook Capital has completed two new deals, its 49th and 50th since it began investing in 2010.

Its Private Debt III fund has provided a unitranche loan to help finance the acquisition of Kuldeteknisk, a Tromsø-based leading supplier of refrigeration and heating products for use in the food, retail, buildings management and fisheries sectors, by Norwegian private equity fund manager Nord Kapitalforvaltning. Beechbrook’s Private Debt III fund offers flexible debt funding to private equity-sponsored businesses across northern Europe.

At the same time, Beechbrook’s UK SME Credit I fund, which specialises in UK small and medium-sized businesses that are not backed by private equity, has provided a unitranche loan to ICP Nurseries, which operates private nurseries in London and the south east of England, to support its buy-and-build strategy.

Anders Høifødt, Partner at Nord Kapitalforvaltning commented, “We are pleased to have partnered with Beechbrook Capital who provided funding towards our recent acquisition of Kuldeteknisk. Beechbrook Capital’s flexibility contributed to an efficient documentation process and we praise their commercial approach. We are looking forward to working with the Beechbrook team again soon.”

Tracey Storey, CEO at ICP Nurseries commented, “ICP Nurseries appreciates Beechbrook’s swift decision making and comprehensive debt package which will enable us to continue the group’s ambitious buy and build strategy. Beechbrook’s flexibility and collaborative approach proved critical in closing one of the acquisitions on time and fulfilled the needs of ICP Nurseries.”

Paul Shea, Beechbrook managing partner, commented “It has been an exciting journey so far. To reach our 50th investment is a big achievement and we look forward to continuing to support quality small and medium-sized companies across the UK and northern Europe. We have raised more than half a billion Euros to date across our four funds, have significantly grown our investment team, and opened our first regional office in Manchester to assist with our origination efforts in the north of the UK.”