Investec has provided 21 million pounds in financing to support Mayfair Equity Partners‘ acquisition of Fox Supplier, a Europe-based provider of fishing equipment. Lincoln International advised Fox on the transaction.
Investec Growth & Acquisition Finance has released details of the financing for Mayfair Equity Partners’ second deal, the acquisition of Europe’s biggest supplier of fishing equipment, Fox International.
The £21 million of new funding comprises senior term loans and working capital facilities.
Stephen White, who led the funding team at Investec, said the deal strengthens an existing successful relationship with Mayfair, which is a new fund raised by the former London LDC team led by Daniel Sasaki.
“We have worked with the Mayfair partners previously and are pleased to back them as they build their new portfolio. The team has an exceptional track record of success in their previous investments” he said.
“Fox is a leading fishing brand and we are excited to be backing a strong management team and look forward to seeing the company enter a new phase of growth with Mayfair.”
Kunal Dasgupta, Partner at Mayfair, said “We are relationship-oriented in our approach, which is very much a philosophy we share with Investec whose team has supported us strongly over the years. Investec are able to move quickly and are responsive to client requests and we look forward to working with them on other opportunities in the future.”
Lincoln International advised Fox. Mark Barrow, who led the team, said Fox is the kind of prominent mid-market business currently attracting potential buyers at high prices.
He said: “It has a long heritage in the angling market combined with a business model ideally suited to the modern trading environment: not only have the management team successfully built a leading position among customers throughout Europe, they have also cracked the migration to a web-based sales channel. Online retail remains a hot sector.”
Investec Growth & Acquisition Finance
Investec Growth & Acquisition Finance is part of Investec Specialist Bank. It works with entrepreneurs, management teams and private equity houses to provide finance to UK mid-market companies. Its flexible solutions cover the entire capital structure offering revolving and amortising senior cash flow lending, mezzanine finance and minority equity on either a standalone or integrated basis. It is a single, empowered and responsive team focussed on making deals happen and building strong relationships with clients.
Investec Specialist Bank
Investec is a specialist bank that provides a diverse range of financial products and services to a niche client base in three principal markets: the United Kingdom, South Africa and Australia, as well as certain other countries