Beechbrook completes 50th deal

The specialist direct lender’s private debt III fund provided a unitranche loan to help finance the acquisition of Kuldeteknisk – a Norwegian-based supplier of refrigeration and heating products used in the food, retail, buildings management and fisheries sectors – by private equity fund manager Nord Kapitalforvaltning.

“We are pleased to have partnered with Beechbrook, who provided funding towards our recent acquisition of Kuldeteknisk,” said Anders Høifødt, partner at Nord Kapitalforvaltning.

“Its flexibility contributed to a swift and efficient documentation process and we praise its commercial approach.

“We are looking forward to working with the Beechbrook team again soon.”

At the same time, Beechbrook’s UK SME credit I fund provided a unitranche loan to ICP Nurseries to support its buy-and-build strategy.

Tracey Storey, CEO at ICP Nurseries, added: “ICP Nurseries appreciates Beechbrook’s swift decision making and comprehensive debt package, which will enable us to continue the group’s ambitious buy-and-build strategy.

“Its flexibility and collaborative approach proved critical in closing one of the acquisitions on time and fulfilled the needs of ICP Nurseries.”

Paul Shea, managing partner at Beechbrook, said it had been an exciting journey so far for the lender.

“To reach our 50^th investment is a big achievement and we look forward to continuing to support quality, small- and medium-sized companies across the UK and northern Europe.

“We have raised more than half a billion euros to date across our four funds, have significantly grown our investment team and opened our first regional office in Manchester to assist with our origination efforts in the north of the UK.”