Creative Parking / Rockpool Investments
Cavendish Corporate Finance, the specialist sell-side M&A firm, has advised on the minority sale of Creative Parking Solutions (“Creative”) to Rockpool Investments, a London-based private equity firm.
Creative has grown to become one of the UK’s leading providers of technology-led car park solutions. The business is backed by premium technology, has grown at an exceptional rate in recent years and now represents a strong platform for growth going forward.
The Cavendish team was led by John Farrugia and Jon Edirmanasinghe.
‘The finnCapCavendish team were great to work with, they took time to listen, properly understand our objectives and tailored the process to get a fantastic result for us. They really understood the value drivers in the ICT sector and had access to all the key buyers for our business, they were able to efficiently manage the sale process maintaining the great relationship we’d built we Adept as our preferred buyer.’
“Thank you to Jon, Steph and Chirag for their tireless efforts in recent months. Jon offered invaluable leadership and strategic advice, while Chirag and Steph provided diligent and supportive guidance throughout. They also behaved throughout as one would expect friends and confidants to act, which is very helpful in a confidential situation. We were delighted with the result and very, very pleased to have had the three of them as our team.”
“Cavendish has a great brand and great people, and from the moment the appointment was made, we knew we were in safe hands. The Cavendish team of Andrew, Steve and Paris delivered the right advice at all times. The strength of their international reach brought parties to the table including ZEDRA who we would never have found ourselves and who saw the potential in our business and our team. Cavendish controlled the process and the negotiations throughout. They also understood how we felt as founders to be selling a business we had built over 12 years. Many thanks once again to the Cavendish team – I would highly recommend them.”
“This deal represents a fantastic opportunity for our investors to support an established and well managed business with an excellent reputation in the facilities management sector. We are delighted with the debt financing package arranged by finnCap, which was a critical element to the completion of the transaction. We were extremely pleased with how the process was managed by the finnCap Debt Advisory Team, which provided us with optionality to select the most appropriate banking partner for CMS.”
The conclusion of the debt refinancing, with the support of finnCap Debt Advisory, is a significant and positive step for Iofina and is the culmination of many months of hard work. The favourable terms of this refinance demonstrate how far Iofina has progressed in recent years, given that the Company has significantly reduced debt, lowered debt interest rates, and secured a strong lending bank partner. With the Company’s balance sheet significantly strengthened by the 7-year term loan in place coupled with the revolving line of credit for future growth, Iofina is focused on operational developments and expanding its production and chemicals product portfolio.
I would thoroughly recommend Andrew and Rebecca and the Cavendish team to anyone looking to maximise the proceeds from a disposal or asset sale. The Cavendish team are both consummate professionals, focused on delivery and pragmatic and flexible in their approach to helping their clients achieve their objectives. I would not hesitate to recommend them and would hope to work with them on future projects. They provide great value.
I am delighted that we have secured a new loan facility an that our three existing funders continue to support the business during this challenging period, demonstrating their confidence in Morses Club and our growth and digital diversification strategy.
I was delighted with the service that Cavendish offered and their real attention to detail. The deal was not without its complexities and it was reassuring to have Paul and his team assisting me throughout the negotiations.
Cavendish handled the transaction with elegance and efficiency. They were proactive, everything kept to time and we completed as planned, less than six weeks after agreeing the heads of terms.
We have thoroughly enjoyed working with the Cavendish team. Caroline, Andrew and Eimear offered us unstinting support and valuable advice throughout the transaction. They were instrumental in helping us achieve this result.
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