We worked cross-departmentally with our Corporate & Private Equity team, who advised WestBridge on their support of the management buyout (MBO) of Tryzens. An international digital commerce agency, Tryzens is headquartered in London, with additional offices in Australia, Bulgaria, and India, and lists Sweaty Betty, Cotton On Group and Treasury Wine Estates among its clients.
Encountering the challenge of obtaining and organising funding under a stringent timeline, WestBridge had the goal of effectively managing risk and ensuring proper distribution of exposure when looking to fund the acquisition.
Our Banking & Finance team guided the private equity firm on strategically employing financial instruments, including debt bridging loan notes, loan notes, senior debt from ThinCats and security documents, formulating a strategic debt finance framework. This framework facilitated efficient risk allocation and equitable exposure distribution, aligning with WestBridge’s investment objectives and ensuring a well-balanced project finance strategy.
Leading on the deal, Banking & Finance experts, James Butters and Chris Lewis, were instrumental in formulating and finalising the principal facility agreement that underpinned the acquisition’s debt financing. This comprehensive agreement encompassed a senior term facility, an uncommitted accordion facility, and a super-senior revolving credit facility provided by ThinCats. They provided advice on the intercreditor agreement’s composition, ensuring the preferential treatment of the principal facility agreement over the entitlements of equity investors and loan note holders.
Considering the transaction’s Australian cross-jurisdictional aspects, we also managed the international components of the deal. With the prompt provision of debt finance to WestBridge, this enabled the investment in Tryzens empowering their ambitious global expansion plans and the enhancement of its digital commerce service offerings.
Ed Minton, Investment Director at WestBridge, said:
We are grateful to Capital Law for their support with this deal – their commercial advice and tireless work ethic meant we were able to complete within a challenging time frame. Capital have supported us consistently across our Fund I and Fund II investments and it was great to have them alongside us on our first investment in Fund III.
Adept at providing specialised support to private equity transactions, our debt finance services are designed to navigate the complexities of financial transactions with precision and strategic foresight. Get in touch to find out more about we can help you.