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Deals |
22 |
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DEAL ANNOUNCEMENT |
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Dow Schofield Watts LLP advised Nick Holmes and Miles Grady on the disposal of Allclear Finance to a management buyout team backed by Inflexion Private Equity. |
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No. |
DATE COMPLETED | PRICE PAID | HOW SATISFIED |
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22 |
31 March 2005 |
£ 15 million |
Cash, loan notes and equity |
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DESCRIPTION OF THE BUSINESS AND THE DEAL |
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Allclear Finance, a top tier supplier of debt solutions and financial planning services to the rapidly growing UK consumer credit market, has been sold to a management buyout team backed by Inflexion Private Equity.The business, lead by Chris Holmes, intends to broaden its service proposition, including providing increased access to needs-based, advice driven debt solutions through a best advice model. Funds managed by Inflexion invested £6.3 million in the buyout of the group which now umbrellas the debt advisory business, an FSA regulated financial product sales company and a compliance entity.The Royal Bank of Scotland provided the debt facilities. Management including Chris Holmes and Terry Sweeney also invested in the business alongside Inflexion Private Equity. |
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ADVISORS |
ROLE |
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| Dow Schofield Watts LLP | Vendor – Financial Advisor | ||
| Halliwells | Vendor - Legal Advisor | ||
| Pinsent Masons | Investor – Legal Advisor | ||
| DLA | Management Legal Advisor | ||
| Hammonds | Bank Legal Advisor | ||
| KPMG | Investor Financial Due Diligence | ||
| The Quinn Partnership | Investor Management Due Diligence | ||
| Deloitte Transaction Services | Investor Commercial Due Diligence | ||
