Park Place Corporate Finance

Independent advice for the independently minded

Adare

£82m Financial Reorganisation | £31m Debt Advisory | £60m Secondary Buy-Out | £N/D Acquisition

Adare

Adare provides marketing and secure communication services to a wide range of commercial and public sector clients.

Following a management buy out in 2006 the business embarked on a programme of non-core disposals.  However, post the financial crash the company became constrained by an inappropriate balance sheet although the trading operations remained significantly profitable. 

PPCF acted for the company in the subsequent financial restructuring.  This resulted in a reorganisation of the company’s balance sheet, reflecting a more appropriate quantum of debt from its banking syndicate and a reorganised share capital structure.

Adare traded strongly since the restructuring and in 2014 refinanced its debt structure with a single provider over a longer tenor.   HSBC provided a £31 million debt package with PPCF providing debt advisory services to the company. 

In 2015 Adare underwent a £60m Secondary Management Buy-Out funded by Endless and HSBC.  PPCF acted as lead advisors to the management team.

In 2016 PPCF advised Adare on its acquisition of Banner Managed Communications.  The strategic acquisition of Banner, a leading supplier of business marketing and essential communication services, provides Adare with a platform to build a world leading marketing services business.  The acquisition was funded by Endless and HSBC.

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