GE Capital, one of Europe's leading providers of leveraged finance for mid-market private equity backed transactions, has acted alongside two other lenders as Mandated Lead Arranger (MLA) of the senior debt package provided to facilitate the transaction of NoteMachine.
Senior debt package totals £63 million
London, 21st August, 2012: GE Capital, one of Europe's leading providers of leveraged finance for mid-market private equity backed transactions, has acted alongside two other lenders as Mandated Lead Arranger (MLA) of the senior debt package provided to facilitate the transaction of NoteMachine.
GE Capital worked with Barclays and European Capital on the senior debt package which was provided to support the acquisition of NoteMachine by Corsair Capital and NoteMachine's management. New committed debt facilities were also put in place to fund the future roll-out or acquisition of additional ATMs. The refinancing completed on 21st August 2012 with senior debt facilities totalling £63 million.
Prior to the acquisition, Rutland Partners had been majority owners of NoteMachine since 2006 and the lending group remained unchanged from that under Rutland Partners ownership.
Founded in 2006 by CEO Peter McNamara, NoteMachine operates approximately 7,000 ATMs in the United Kingdom and, in addition, more than 500 ATMs in Germany. NoteMachine has a 7% share of cash withdrawals in the United Kingdom and its ATMs dispense £5 billion of cash every year.
GE Capital has a leveraged loan portfolio in excess of €5 billion across EMEA covering 160 companies in the region. The firm has been lead arranger of over 30 deals in the last 18 months, and has a strong pipeline in place for the remainder of the year. The financing was led on behalf of GE Capital by Dan Matthews, Galina Markova and Sana Ayub-Shah.
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Michael Goodbody
GE Capital EMEA
[email protected]
+44-207-302-6269
+44-7899-808-239