Kartesia completes the first UK investment from its senior debt opportunities fund with the refinancing of The Clearway Group
Kartesia is pleased to announce the completion of its first UK investment from Kartesia Senior Opportunities I (KSO I), with the refinancing of The Clearway Group, which specialises in providing technology-led solutions to monitor and protect vacant properties in the UK and France.
Headquartered in London, The Clearway Group is a leading vacant property services provider. The Group’s companies, which operate throughout the UK and France, deliver solutions that are tailored to their customers’ needs – utilising an extensive range of specialist services integrated with market leading technology.
The final transaction structure offers a comprehensive solution to support The Clearway Group in its strong growth trajectory. Kartesia has arranged a £26m financing package comprising term loans and a Capital Expenditure / Acquisition facility. Kartesia’s deal team included Nick Holman, who is heading Kartesia’s direct lending efforts in the United Kingdom, and Toon Van Coillie.
Ian Quinlan, CEO of The Clearway Group commented: “Kartesia offered an attractive and flexible financing package from the beginning of this competitive process. Under challenging circumstances, Nick and his team adopted a pragmatic approach to conclude the financing, with negotiations and execution taking place largely under lockdown. We are delighted to refinance our existing debt facilities and for additional capital to support our international acquisition and expansion strategy.”
Nick Holman, Director at Kartesia, commented: “We are pleased to complete this transaction which marks a significant milestone for Kartesia, being the first UK transaction from the Kartesia Senior Opportunities I fund. Ian and his team are one of the most experienced in the sector, and we are delighted to provide facilities to help The Clearway Group accelerate their growth strategy in the UK and France over the coming years.”