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Carlyle agrees to provide 176 mln pound financing to Bowmark-backed Leaders Romans Group

Carlyle Group agreed to provide up to 176 million pounds ($213.8 million) in financing to Leaders Romans Group, a U.K.-based property services group owned by Bowmark Capital. Financing includes a 126 million pound senior secured term loan, 25 million pound acquisition facility and up to 25 million pound accordion acquisition facility. Carlyle provided the financing through its Carlyle Credit Opportunities Fund, which closed on $2.4 billion.

Press Release

Global investment firm The Carlyle Group (NASDAQ: CG) today announced it has agreed to provide up to £176 million in financing to Leaders Romans Group (LRG), one of the UK’s largest property services groups, owned by Bowmark Capital. The financing includes a £126 million senior secured term loan, a new £25 million acquisition facility and an up to £25m accordion acquisition facility which can be used to support LRG’s growth and market consolidation strategy.

Carlyle provided the financing through its recently closed Carlyle Credit Opportunities Fund, a $2.4 billion fund that invests in directly originated private capital solutions primarily for upper middle market borrowers, including non-private equity sponsored, family or entrepreneur-owned companies..

Taj Sidhu, Managing Director and Head of Carlyle’s European Credit Opportunities advisory team, said, “We are pleased to support LRG’s continued growth, not only by providing this financing package, but by serving as a strategic partner with the ability to support potential transformational acquisitions should suitable opportunities arise.”

A 15-person team based in New York and London advises the Carlyle Credit Opportunities Fund, and invests across the capital structure through a combination of secured loans, senior subordinated debt, mezzanine debt, convertible notes and other debt-like instruments, as well as preferred and common equity. The fund will benefit from proprietary investment opportunities originating from within Carlyle and the firms’ global resources and operating expertise.

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About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $223 billion of assets under management as of June 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.

About Leaders Romans Group
Leaders Romans Group (LRG) is an independent UK lettings and property services group, combining a specialist national lettings business with a sales and professional services offering. LRG’s primary focus is on lettings which mainly comprises managing residential properties and finding tenants. LRG is headquartered in Bracknell, UK and operates 3 distinct brands (Leaders, Romans and Boyers). With 162 branches and offices across the UK and a focus on the South East and Greater London, LRG employs around 2,000 people, while managing approximately 50,000 properties.