Travers Smith LLP has advised Apera Asset Management (Apera), a pan-European mid-market private debt investor, on debt facilities made available to support the refinancing and the ongoing buy and build strategy of TC Group, a leading business services firm specialising in a wide range of accountancy and other financial planning services.
This transaction follows two further matters for Apera that signed in the final weeks of 2020. In November, Travers Smith advised Apera on the financing of the recapitalisation by LDC of Babble Cloud Holdings Limited. In December, the team advised on debt facilities provided to support the buyout of Halo Foods, a leading manufacturer of healthy and nutritious snack foods.
Apera was established in September 2016 and is part of the fi-Group, a pan-European investment platform dedicated to providing private debt and equity solutions to SMEs. The Apera team has over 100 years’ experience in the private debt markets and has cumulatively invested more than €3.5 billion in over 150 transactions across Europe.
The Travers Smith team across the three transactions was led by Head of Finance Matthew Ayre.
David Wilmot, Partner at Apera, said "We have enjoyed working with the Travers Smith team on several recent transactions. Each has involved providing tailored financing solutions to leading players within their markets and we have been grateful to Travers Smith's support in executing these transactions smoothly despite the ongoing lockdown restrictions."
Partner Matthew Ayre added "We have developed a significant lender-side practice advising both banks and debt funds and we are delighted to have had this opportunity to work with Apera for the first time and to quickly cement the relationship through our work on several matters."
Complementing our lender-side practice, the team also advises prominent private equity and financial sponsors and corporate borrowers on leveraged and acquisition finance matters. This balance enables us to rapidly identify the key legal and commercial points on any transaction, resulting in our clients receiving pragmatic and workable solutions.