11th December 2014 – Beechbrook Capital, the specialist direct lender, has completed two new investments from its Beechbrook Mezzanine II fund. They mark the eighth and ninth investments made by this fund, which closed in July at €151 million.
The two new investments are:
- Beechbrook originated and arranged a mezzanine loan and preferred equity investment to support the management buy-out of IPS Specials by the company’s founder, Ashok Patel. Idinvest Partners made a co-investment alongside Beechbrook. The company manufactures and supplies UK pharmacies with ‘specials’ – unlicensed medicines created for patients for whom there are no suitable licensed products available, for example because they are allergic to conventional ingredients. The business was bought from Elysian Capital.
- A mezzanine PIK and equity co-investment to support the buy-out of Leo’s Lekland by Litorina. Headquartered in Luleå, Sweden, Leo’s Lekland is a leading operator of children’s indoor play centres in Scandinavia and has ambitious expansion plans.
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. The pipeline remains strong and we are on track with our deployment. Our second fund is now 50 per cent drawn and we expect to be raising Fund III in the second half of 2015.”
Beechbrook currently has over €200 million of assets under management.
