Turtle Wax secured a £6m funding agreement to help support plans to expand throughout Europe, the Middle East and Africa (EMEA).
Turtle Wax is a long-established multinational developer of vehicle car products. Park Place were appointed to advise the EMEA division on a refinancing to enable the business to operate as a standalone entity from its US parent company.
The company’s new facility, provided by Bibby Financial Services, comprises a £4m invoice financing agreement alongside £2m covering trade receivables and stock funding.
Turtle Wax, which relocated its EMEA headquarters to Bootle in October 2014, now plans to grow market share throughout the region following the launch of two new product lines, Perfect Finish for car enthusiasts and Essentials for new, young drivers.
Tim Clarke, who led the deal for Park Place, commented “We are delighted to have assisted management with the implementation of a suitable financing structure, allowing for and supporting their expansion plans for the future.”
Since 2006, we have guided UK and overseas clients on mergers, acquisitions and disposal activities, MBOs (and buy ins), broad-ranging strategic issues, corporate reorganisation and recovery and private equity.
RMS is the largest independent operator of port facilities on the Humber and River Trent. It operates facilities at Goole, Grimsby, Immingham, Flixborough and Gunness. It also provides warehousing and logistical services.
Costcutter Supermarkets Group is one of the leading convenience retailers in the UK with around 1,400 stores. It was founded in 1985 by Colin Graves and remained owned by his family and their trusts.
Penthouse Carpets is a long established carpet manufacturer based in Rochdale. The business has been producing high quality carpets for over 30 years and has close relationships with numerous independent carpet retailers throughout the UK.
Harvard Engineering is a world leader in the design, development and manufacture of energy saving control products and LED drivers for the lighting industry.
Crossroads Truck & Bus is the Volvo commercial truck and bus dealership for Yorkshire and Lincolnshire. The business was the subject of an MBO in August 2005 funded by HSBC. Park Place conducted due diligence for the bank and established a close working relationship with the management team.
Shearings Leisure Group is one of Europe’s leading specialist operators of escorted tours and leisure hotels. The business offers coach, air, rail, cruise and hotel breaks to more than 170 destinations in the UK, Europe and Worldwide serving over 1.1 million passengers per annum.
Adare provides marketing and secure printing 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.
The Cedar Court Hotels group consisted of 5 well-known hotels across West and North Yorkshire. Park Place were engaged in 2013 to assist the family shareholder base realise the value created in the 30 years since they developed their first hotel.
WHP are established providers of professional and network support services to mobile network operators. They are one of the UK's longest established providers of professional and network support services to the wireless telecommunications sector. WHP offer a complete range of end to end services.
Springfield, one of Yorkshire’s and the North East’s leading care providers, has secured £7m of development capital funding from the Business Growth Fund and HSBC. Having advised Springfield on its previous fundraising Park Place again advised the company on a transaction.
ZyroFisher was originally formed in early 2016, when LDC backed the management buy-out of Zyro and supported the simultaneous acquisition of Fisher Outdoor Leisure. The merger created a business with sales of c.£75m which represents many market-leading global brands across all cycling disciplines.
de Poel is the UK’s leading Independent Vendor Neutral expert in procuring and managing the supply of temporary agency staff for large corporates.
Principle has defined and leads the global brand implementation market. Principle takes brand concepts and designs and makes them a physical reality, ensuring that brand standards are adhered to across sites around the globe.
ZyroFisher was originally formed in early 2016, when LDC backed the management buy-out of Zyro and supported the simultaneous acquisition of Fisher Outdoor Leisure. The merger created a business with sales of c.£75m which represents many market-leading global brands across all cycling disciplines.
Swift is the UK’s leading manufacturer of both touring caravans and of motor homes, and owns many of the leading brands in the sector. It also has a significant market share in the manufacture of holiday homes.
Arena is a leading independent specialist in hard copy and electronic data management. Established in 1991 the business provides hardware, software, service and expertise to a diverse range of clients in markets including education, financial and legal services.
Crossroads Truck & Bus is the Volvo commercial truck and bus dealership for Yorkshire and Lincolnshire. The business was the subject of an MBO in August 2005 funded by HSBC. Park Place conducted due diligence for the bank and established a close working relationship with the management team.
Founded in 1994, Acumen is one of the UK’s leading providers of industrial site services and waste management solutions, with offices and waste facilities in Keighley, York, Stockton on Tees, Immingham and Wolverhampton.
Park Place supported SimplyBiz, the leading independent provider of compliance and business services to financial advisers and financial institutions in the UK, on its acquisition of Defaqto for a total consideration of £74.3m. SimplyBiz, based in Huddersfield, is a long standing client of Park Place.
Lucion is a market leading multidisciplinary risk management business focused on hazardous materials, with a market-leading presence in the asbestos compliance market.
Park Place advised the management team of Pyroguard on an MBO backed by ESO Capital Partners. The investment accelerates Pyroguard’s expansion plans to further strengthen its position across the UK, Europe and selected wider global markets.
Qualter Hall & Company is an internationally recognised engineering business with a reputation for high quality design and manufacture having undertaken iconic projects around the world. It employs 120 people from its head office in Barnsley.
Park Place have advised on the Management Buy Out of Robinson Contract Services funded by ThinCats.
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