Transactions

Craven Street Capital advised Punter Southall Group (“PSG”) on the merger of its actuarial consulting, pensions administration and investment consulting businesses with Xafinity plc. The merger was conducted along with the simultaneous acquisition by PSG of HR Trustees from Xafinity.

– Creation of the largest “pure-play” pensions consultancy firm in the UK and an alternative to the Big Three in the pensions consultancy sector

– Creation of a clear independent trustee market leader in the UK

– Complex deal structure which included simultaneous acquisition and disposal along-side a debt raise and placement and open offer

Size of Transaction: GBP 153 million

Date of Announcement: December 2017

Status: Closed

Craven Street Capital acted as Financial Adviser to the Executive Directors and the Senior Managers of Sabre Insurance Group PLC on its successful IPO on the London Stock Exchange. The proceeds from the IPO will be used to purchase the Topco Preference Shares, which are 99.9 per cent. owned by funds advised by BC Partners LLP

– Provided independent advice to the Executive Directors and the Senior Mangers throughout the IPO process

– Priced at 230 pence per share, giving the company a market value of GBP 575 million (USD 771 million) at the start of conditional trading

Size of Transaction: GBP 575 million

Date of Announcement: December 2017

Status: Closed

Craven Street Capital advised its client Green City Energy AG in securing a bridge financing facility to be used to fund the construction of photovoltaic and hydropower plants in France.

– Provided assistance in relation to the investor identification, structuring of the transaction, documentation negotiation,  and independent pricing advice

Size of Transaction: Undisclosed

Date of Announcement: July 2017

Status: Closed

PSource Capital advised a pre-revenue UK Life Insurer, Gryphon Group Holdings Limited, on raising £184 million in committed capital in the form of equity, mezzanine, senior debt and financial reinsurance facilities.

– Provided assistance in relation to project and independent due diligence management, documentation negotiation, investor identification and independent pricing advice

– Complex deal structure

Size of Transaction: GBP 184 million

Date of Announcement: January 2017

Status: Closed

- Undisclosed -

PSource Capital advised a pre-revenue UK Life Insurer on the acquisition of a UK Life Insurance business

– Full details to be announced in the near future

Size of Transaction: Undisclosed

Date of Announcement: December 2016

Status: Closed

PSource Capital advised Punter Southall Aspire (“Aspire”) on the investment into Quai Administration Services Limited (“Quai”)

– Strategic partnership to assist Punter Southall Aspire to transform the way employees engage with workplace saving

Size of Transaction: Undisclosed

Date of Announcement: October 2016

Status: Closed

PSource Capital advised Punter Southall Aspire (“Aspire”) on the investment into Future Kings Limited (“Future Kings”)

– Strategic partnership to assist Punter Southall Aspire to improve the services that it provides to its workplace pensions and savings clients

Size of Transaction: Undisclosed

Date of Announcement: September 2016

Status: Closed

PSource Capital Limited advised Solaer Energias Renovables on the sale of a 48 MW solar power plant at Eveley Farm. The mandate included:

– Evaluation of different financing and sale options to determine the most attractive solution for the client

– A structured tender process for long-term, inflation-linked project finance debt from UK and international banks

– A structured tender process for the pre-construction sale of the project with a milestone-payment based EPC contract in place

Size of Transaction: Undisclosed

Date of Announcement: March 2016

Status: Closed

PSource Capital advised Proton Partners International Limited, a pre-revenue company, on securing a £30 million debt facility from Shawbrook Asset Finance, part of specialist lending and savings bank Shawbrook Bank Limited

– Proceeds used to fund development of the first three UK proton beam therapy and radiation therapy centres

– Provided assistance in relation to project and independent due diligence management, securing of banks facility, documentation negotiation, investor identification and independent pricing advice

– Complex deal structure

Size of Transaction: GBP 30 million

Date of Announcement: December 2015

Status: Closed

PSource Capital advised Punter Southall Group (“PSG”) on the acquisition of Ashcourt Rowan Corporate Solutions Limited (ARCS) from the Towry Group

– Strategic Acquisition to almost double the number of defined contribution clients on PSG’s books to 800

– Acquisition will provide an increased presence in the north and north-west of England with offices in Leeds, York and Manchester

Size of Transaction: Undisclosed

Date of Announcement: October 2015

Status: Closed

PSource Capital acted as financial adviser to Jersey based finance business, Acorn Group Holdings (“Acorn”), on the share sale and funding agreement

– Strategic investment in a market-leading Jersey based asset and consumer finance business

– Proceeds used to significantly increase the lending book from £36.5 million

Size of Transaction: Undisclosed

Date of Announcement: June 2015

Status: Closed

PSource Capital advised Punter Southall Health and Protection Consulting Limited (“PSHPC”) on the acquisition of The Private Health Partnership (“PHP”)

– Increased PSHPC presence in the north of England

– Strategic acquisition to increase the amount of clients that PSHPC advises on to more than 700 corporate clients and 7,500 SME and personal lines clients, worth more than £150 million in insurance premiums

Size of Transaction: Undisclosed

Date of Announcement: July 2014

Status: Closed

PSource Capital advised the newly merged business, River and Mercantile Group, on its listing on the Main Market of the London Stock Exchange

– Provided assistance in relation to project management, appointment of banks and other advisers, investor identification, demerger from parent company and independent pricing advice

– High pressure to complete transaction on a tight timetable, commencing immediately after merger

Size of Transaction: GBP 150 million

Date of Announcement: June 2014

Status: Closed

PSource Capital advised Punter Southall Group and P-Solve Limited (“P-Solve”) on the merger of P-Solveand River and Mercantile Asset Management LLP (“River and Mercantile”)

– Created a unique proposition incorporating asset management, derivitabes and investment advisory.

– Complex deal structure which included the acquisition of an LLP

– The merger was intended to be a precursor to an IPO

Size of Transaction: Undisclosed

Date of Announcement: March 2014

Status: Closed

PSource Capital advised Punter Southall Group Limited (“PSG”) on the investment into Argentis Financial Group (“Argentis”)

– Strategic partnership to assist PSG’s financial planning and wealth management businesses to grow further

Size of Transaction: Undisclosed

Date of Announcement: March 2014

Status: Closed

PSource Capital advised Punter Southall Group (“PSG”) on the acquisition of Blacktower Financial Advisors Limited (“Blacktower”)

– Strategic acquisition of a leading employee benefit and private client financial planning company in a fast growing market

– The transaction of the Surrey-based IFA sees PSG’s number of private clients rise by nearly 20 per cent to almost 5,000

Size of Transaction: Undisclosed

Date of Announcement: February 2014

Status: Closed

PSource Capital was mandated by Rurelec plc, a UK based AIM-listed company, to raise capital to fund the construction of a number of hydro projects in Peru

– PSource previously secured a $15 million debt facility for Rurelec, used to fund development of power projects in South America

Size of Transaction: Undisclosed

Date of Announcement: January 2014

Status: Closed

PSource Capital was mandated to advise Psigma Investment Management (“PIM”) on the acquisition of the £300m wealth management business of AXA Framlington

– Strategic acquisition to grow the wealth management offering

Size of Transaction: Undisclosed

Date of Announcement: July 2013

Status: Closed

Source Capital advised CommEq on raising seed capital from FRM, Man Group plc’s fund of hedge fund division

– Seed capital raised to fund CommEq launch an institutional asset management business

– CommEq will seek alpha through its artificial intelligence based prediction engine

 

Size of Transaction: USD 25 million

Date of Announcement: July 2013

Status: Closed

PSource Capital was mandated by the Punter Southall Group on the disposal of PSigma Asset Management Holdings (“PAM”) to Miton Group plc, a UK based AIM-listed company

– Disposal of a non-core business

Size of Transaction: GBP 13 million

Date of Announcement: July 2013

Status: Closed

PSource Capital advised Punter Southall Health and Protection Consulting Limited (“PSHPC”) on the acquisition of Enrich Consulting

– Strategic acquisition to increase the amount of clients that PSHPC advises on to more than 670 clients, worth more than £100 million in insurance premiums

Size of Transaction: Undisclosed

Date of Announcement: March 2013

Status: Closed

PSource Capital advised Rurelec plc, a UK based AIM-listed company, on securing a $15.5 million debt facility Burford Capital plc

– Proceeds used to fund development of power projects in South America

– Provided assistance in relation to project and independent due diligence management, securing of bank facility, documentation negotiation, investor identification and independent pricing advice

Size of Transaction: USD 15.5 million

Date of Announcement: August 2012

Status: Closed

PSource Capital was mandated to advise China Pacific Construction Group (“CPCG”), one of the largest private construction companies in China, on a corporate restructuring project with a view to raising equity from international investors

– Provided valuable advice in relation to project management, capital raises, project finance and corporate restructuring

– Created value by helping CPCG achieve their strategic objectives

Size of Transaction: RMB 42 million

Date of Announcement: 2010 – 2012

Status: Closed

PSource Capital raised capital for the American company PetroAlgae Inc (“PetroAlgae”), a pre-revenue company developing novel processes and technologies to produce feed and fuel from biomass

– Strategic investment in a leading renewable energy company in a fast growing market

– Proceeds used to continue roll out of licences and continue R&D to maintain lead over competitors

Funds Raised: USD 21 million

Date of Announcement: September 2010

Status: Closed

PSource Capital managed the PSource Structured Debt Limited (“PSD”) fund and placed secondary offerings

– PSD included over 80 loan and equity investments into small- and mid-sized US corporates

Date of Announcement: June 2008

Status: Closed

PSource Capital structured, listed and managed the PSource Structured Debt Limited (“PSD”) fund

– Fund structuring, broker selection and investor roadshow

– PSD included over 80 loan and equity investments into small- and mid-sized US corporate

Funds Raised: GBP 30 million

Date of Announcement: August 2007

Status: Closed