Giving berth to a high-speed transaction

Article Abstract:

HSBC Private Equity (HSBCPE) made a successful bid of 72 million pounds sterling for the Harwich International Port, owned by Stena Line AB. The deal was completed within two months, as specified by HSBCPE. An additional 5 million pounds sterling was needed to fund the transaction and for working capital. HSBCPE and its clients underwrote 25 million pounds sterling and arranged finance for 52 million pounds sterling. HSBCPE was very keen the management would not leave the firm, following the sale. The Port caters for a variety of vessels including ferries and oil tankers.

Passenger Ships, Deep Sea Passenger Transportation, Water Transportation of Passengers, Marine cargo handling, Ports, Passenger vessels, Shipping industry, Company Profile, HSBC Private Equity, Stena Line AB, Harwich International Port

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A deal packaged-up in record time

Article Abstract:

Cinven and CVC joined together to acquire KNP BT Packaging for 7.5 billion euros in May 1998. The company has since changed it name to Kappa Packaging. The debt finance was provided by Barclay Capital. Cinven and CVC were able to successfully beat two other companies to make their purchase even though the price they were offering was almost the same as the other bidders. They were able to offer a very quick deal with a strong financial package. Kappa Packaging was seen as a good buy because of it was the third largest European manufacturer of fibre board-based packaging.

Paperboard Containers, Paperboard Container Manufacturing, Paperboard Containers and Boxes, Paper products industry, Packaging industry, CINVen, Kappa Packaging

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Burdale aims to become a real asset in UK lending

Article Abstract:

US asset-based lender Congress Financial has purchased a majority stake in UK asset-based lender Burdale Holdings, one of the few companies of its kind in the UK. The latter concern focuses on businesses which are active in distribution, importation, retailing and manufacturing, mainly with turnover of between 1 million pounds sterling and 20 million pounds sterling. It will benefit from Congress Financial's experience, and will act as a base for meeting the asset-based credit requirements of middle-market operations in the UK.

Management, Asset-backed securities, Asset backed securities, Burdale Holdings, Congress Financial Corp.

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