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Travers Smith advises Shawbrook Bank on a unitranche facility provided to Codestone

Overview

Travers Smith LLP has advised Shawbrook Bank (Shawbrook) on a bespoke unitranche facility provided to technology implementation and services business, Codestone. This funding will be used to pursue significant acquisitions and to continue investing in strong organic growth.

Headquartered in Poole, Dorset, with offices in London and Cheshire, Codestone was founded in 1997 and is the UK’s leading provider of ERP, Cloud and Managed Services to SME and mid-market businesses. The funding from Shawbrook follows backing from FPE Capital, the software & services focused lower mid-market growth investor, in March 2021, the first outside investment the business had received since its launch in 1997.

The Travers Smith team was led by Finance Partner Katie McMenamin with support from Associates Katie Moran, Danielle Ledford and Trainee Will Legood.

This is the latest in a series of deals that Travers Smith has advised on since Shawbrook launched its unitranche product in summer 2019.