16th September 2015 – Beechbrook Capital, the specialist direct lender, has completed two further investments from its Beechbrook Mezzanine II fund. They mark the 11th and 12th investments made by this Fund, which closed in June 2014 at €151 million.
The two new investments are:
- Beechbrook originated and arranged a unitranche and equity co-investment to support the management buy-in of Glevum Heating by A.R.P. Capital Partners. Headquartered in Gloucester, UK, Glevum is an independent provider of traditional gas heating and renewable heating services (installation, servicing and maintenance).
- Beechbrook has provided a mezzanine loan to Veezu, the owner of a network of regional taxi firms in the UK, in support of their acquisition of the leading private hire firm in Leeds; Amber Cars. Veezu’s acquisition is its third sizable acquisition in 13 months, which sees the group with over 2,250 cars and 235 staff moving circa 20 million passengers per annum.
Beechbrook partner Paul Shea said: “We are delighted with the latest investments for Fund II. We are continuing to see attractive opportunities in the lower mid-market and the pipeline remains strong. Our second fund is now 65 per cent invested and we expect to be raising Fund III in 2016.”
