04/02/2019 - Market news
Clearwater International’s Debt Advisory team raises in excess of €1.9bn in debt finance in 2018
The Debt Advisory team at mid-market corporate finance advisory firm Clearwater International raised in excess of €1.9bn in debt finance during 2018. This debt was utilised by European businesses to support acquisition activity, refinance existing debt facilities, re-align capital structures and just as importantly, support organic growth. The team completed a total of 38 debt advisory transactions across Europe throughout 2018, a 40% increase in deal volume which demonstrates the growing importance of debt advisory in the current market.
Amongst others, the German corporate debt team provided debt advisory services to ante-Group, one of the leading family-owned wood industry companies in Europe, on a self-arranged refinancing with a transaction value of €66.5m.
Another notable deal by the German team was in the unified communications market, advising independent private equity investment group Waterland Private Equity, on raising unitranche debt funding for the merger of Swyx Solutions and Within Reach Group. Clearwater International advised on the structure of the €154.5m acquisition finance package.
The mid-market has seen increasing demand for innovative debt solutions to meet strategic aims and transaction requirements, e.g. the combination of asset backed lending with term debt in leveraged financings. With more diverse lending options now available, Clearwater International is advising on more debt transactions than ever with its dedicated team. As the team continues to grow across Clearwater International’s European offices, it is able to offer a greater range of solutions to clients through its extensive market knowledge and cross-border collaboration.
The positive lending environment in the mid-market means it’s a great time for businesses to take advantage of the competitive terms and new structures available. New lenders are entering the market and existing lenders fight to remain competitive, with more flexible structures designed to support strategic growth and acquisition objectives. This includes a number of banks looking to collaborate with direct lenders and debt funds, in order to broaden their service offerings.