Chicago-based advisory firm Previsio Partners has arranged financing to support KleinPartners Capital Corp’s acquisition of Hypercom’s former Spanish and UK Businesses. The acquired businesses, renamed Spire Payments, provide point of sale hardware and software solutions. KleinPartners Capital Corp is an El Segundo, California based private equity firm focused on the lower mid-market.
Previsio Partners LLC, a Chicago-based international advisory firm, is pleased to announce it acted as exclusive advisor to and debt placement agent for KleinPartners Capital Corp., an El Segundo, CA based private equity firm.
“We were told that they were the best team for finding financing alternatives in transactions involving multiple jurisdictions and their reputations are, in our opinion after seeing their work on this deal, well deserved”
Previsio was engaged to assist KleinPartners with its recently completed acquisition of substantially all the assets of the former Spanish and UK businesses of Hypercom Corporation by its affiliates, Spire Payments S.A. and Spire Payments UK Ltd. Previsio advised KleinPartners on the structure of the transaction, identified potential lending sources in both Spain and the UK, advised KleinPartners in the selection of the lenders and assisted KleinPartners in the negotiation and closing of the credit facilities in Spain and the UK.
KleinPartners turned to Previsio for its European financing needs because of Previsio’s well known deep expertise and experience in completing cross border financing transactions and because of Previsio’s unrivaled knowledge of the scope of local financing products available for transactions of this type.
“Previsio came highly recommended to us,” said Greg Klein, Founder and Managing Director of KleinPartners. “We were told that they were the best team for finding financing alternatives in transactions involving multiple jurisdictions and their reputations are, in our opinion after seeing their work on this deal, well deserved,” Klein commented. “In a time of significant change in the European debt markets, they were able to identify multiple lenders interested in the financing, ultimately providing us with strong alternatives. Their knowledge of market conditions and terms allowed us to obtain the financing we needed at market pricing and with terms that allow us the flexibility we need to execute on our business plan,” Klein continued.
Stephen Lewis, Managing Director of Previsio commented, “We were very pleased to be called upon to assist KleinPartners with the Spire transaction. KleinPartners had a very clear vision of what they hoped to achieve with the transaction, but, by their own admission, did not have the local knowledge or experience with the financing techniques and products available to middle market borrowers in Europe, particularly during the current financial turmoil in Europe.”
Lewis continued, “We were able to pair our knowledge of the markets and the market players gained over many years of doing business in Europe with the needs of the company in order to focus quickly on lenders with proven track records of delivering financing to qualified borrowers even during times of uncertainty in the macro marketplace.” “We think the result achieved for KleinPartners and Spire demonstrates that cross-border financing for quality middle market companies is possible even in today’s difficult financing environment when such opportunities are lead by knowledgeable participants with a clear understanding of local customs and practices and market norms. We were thrilled to work with KleinPartners on this transaction,” Lewis concluded.
About KleinPartners: KleinPartners Capital Corp is an El Segundo, California based private equity firm focused on the lower middle market having completed 24 transactions over the last 9 nine years, primarily in the technology and electronics sectors. The firm specializes in liberating the latent resources of its portfolio companies, thus allowing those companies to realize their full potential. The firm has the financial, operational and intellectual resources to rapidly improve shareholder value by building innovative growth strategies and empowering management teams to succeed.
About Previsio Partners: Previsio Partners LLC, with offices in Chicago and London, is a specialty, international loan consultancy focusing on “Streamlining Cross Border Financings™” for middle market companies. Previsio Partners offers a full range of services from structuring and restructuring, to debt placement, project management, due diligence and collateral maintenance and monitoring for financing transactions involving two or more jurisdictions anywhere in the world.