Clearwater International advises Daisy Group on refinancing for business growth
Clearwater International has advised Daisy Group on the second phase of its recent refinancing with Ares. The Ares debt package consisted of over €1bn of debt facilities to support the company’s “buy and build” investment strategy and was one of the largest private credit financings in Europe.
Clearwater International advised Management and Ares on raising Super Senior term debt and RCF facilities of c. €190m to complement the Ares facilities. The facilities were provided by a group of banks and an institutional investor, all keen to support the continued growth of Daisy Group.
Daisy provides IT and telecoms services to over 360,000 corporations of all sizes either directly or indirectly and has over 30 locations throughout the UK.
The banking group consisted of AIB, Lloyds Bank, NatWest Bank and Santander. Legal advice was provided by Eversheds Sutherland, Dechert and Ashurst.
Adviser to Daisy Group on its refinancing with AresView more