Deal of the Year, European, 2016: GTCR


GTCR, Mike Hollander, Deal of Year 2016, European Deal
SNAPSHOT
  • Company: Premium Credit Ltd
  • Lenders: Barclays Capital, Lloyds Banking Group, Deutsche Bank, HSBC, Société Générale
  • Legal advisor: Kirkland & Ellis LLP, Mayer Brown International LLP
  • Financial advisor: Kessler Group, Riverside Risk Advisors, J.P. Morgan Ltd
WHY THEY WON
  • Grew European lender in difficult macroeconomic environment
  • Completed a 200 million pound dividend recap
  • Increased transactions by 13.6 pct and payment volume by 16.7 pct
  • Reduced costs of funds by about 45 pct spread over LIBOR
In applying its “leaders strategy” to a neglected foreign subsidiary, GTCR was able to grow a U.K.-based lender and post strong returns in a difficult European macroeconomic environment. Before GTCR acquired it in 2012, Premium Credit Ltd (PCL), which offers ...

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