Industrial
UK
has raised debt facilities to recapitalise
UK
  • Industrial
  • Debt Advisory
  • Capital-raising & restructuring
  • UK
  • Jul 2017

Livingstone Debt Advisory advises Rutland Partners on recapitalisation of Aston Barclay

Rutland Partners recapitalisation of Aston Barclay image

Livingstone’s Debt Advisory team has advised Rutland Partners on the recapitalisation of its recent investment in the management buy-out of Aston Barclay.

Aston Barclay is the UK’s leading independent car auction group, operating from five sites across the country. Headquartered in Chelmsford, the business provides vehicle remarketing services to fleet and dealership vendors and had been owned by the Scarborough family since 1984.

Aston Barclay has invested heavily in recent years in both its auction sites and IT systems. This investment has delivered strong growth as well as establishing a market reputation for high levels of customer service.

A comprehensive debt package was provided by Crescent Credit Europe LLP and included unitranche facilities, capex facilities and an accordion facility. Barclays Corporate provided super-senior working capital facilities.

Tristan Craddock, Investment Director at Rutland, commented: “We are extremely pleased with the financing package that Livingstone delivered which provides Aston Barclay with a strong and flexible funding structure to support the exciting growth opportunities ahead. Livingstone were both supportive and proactive throughout the process and ensured the process was efficient and successful.”

Aston Barclay’s CEO, Neil Hodson added: “We were delighted with Livingstone’s support and enthusiasm in raising the debt facilities. Their expertise and market experience ensured a smooth and efficient process for us.”

Bill Troup, Managing Director, Debt Advisory at Livingstone, commented: “We enjoyed working with Rutland Partners and the Aston Barclay management team in raising a flexible debt package to accommodate the business’s current needs and planned initiatives. The positive market response reflected the quality of the opportunity and the team.”

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What our clients say

Tristan Craddock, Investment Director

“We are extremely pleased with the financing package that Livingstone delivered which provides Aston Barclay with a strong and flexible funding structure to support the exciting growth opportunities ahead. Livingstone were both supportive and proactive throughout the process and ensured the process was efficient and successful.”