17 December 2020 – Beechbrook Capital, one of the leading private debt fund managers in the European lower mid-market, has backed WestBridge Fund Managers in their acquisition of Eque2 Limited in the UK.
The Private Debt III fund, which provides flexible capital solutions to private equity-backed businesses, has provided a loan and equity co-investment to support WestBridge’s acquisition of Eque2 from LDC.
Headquartered in Maidenhead, Eque2 supplies business management software to more than 2,700 customers in the construction, housebuilding and contracting industries. Revenues have grown significantly over the last four years and it has proven to be resilient during the Covid pandemic. The company continues to invest significantly in customer service and product development to allow customers to further integrate and mobilise the commercial and financial aspects of their business to drive efficiencies and ultimately improve profitability.
Paul Shea, managing partner at Beechbrook Capital says:
“Beechbrook are excited to have invested in Eque2, an experienced leader in the construction ERP sector. We are looking forward to working with the WestBridge team in supporting the next phase of the business’s growth. The financing solution provided demonstrates our collaborative approach to structuring a flexible solution that is suitable for the deal structure as well as the company’s ambitious growth plans.”
Guy Davies, managing partner at WestBridge Fund Managers says:
“Beechbrook did an outstanding job of working efficiently to support us in this complex transaction. This was one of the key factors that allowed us to become management’s preferred partner and ultimately complete the deal. We are very much looking forward to partnering with management and the Beechbrook team over the next stage of Eque2’s growth.”
