It’s a small world for Barclays
Who?
Barclays Corporate in the Midlands.
Did what?
Has provided debt facilities to support FF&P Private Equity’s ‘substantial’ capital investment in international money transfer company Small World Financial Services.
What does this mean?
Barclays director Mike Giddings said: “Small World is a long standing and valued customer of Barclays Corporate and we were delighted to work alongside FF&P and the management team to provide the company with the facilities to continue its proven buy-and-build strategy.” Nick Day, managing director of Small World said: “The investment by FF&P will enable us to continue to consolidate the fragmented European market place.”
Who advised?
The deal was led by Mike Giddings and Andy McDonald from Strategic Debt Finance in Barclays Corporate, Birmingham. Matthew Heaton of Pinsent Masons in Birmingham provided legal advice to Barclays in connection with the transaction.
Insider comment:
It's good news that banks are backing companies with buy-and-build strategies, as its this sort of ambition that has been in too-short supply over the last two difficult years.
Nick Day, managing director of Small World, said: “We have banked with Barclays since we founded the business in 2005 and are grateful for their ongoing support. The investment by FF&P will enable us to continue to consolidate the fragmented European market place and we are excited about the prospects for the next few years.”
Nick Day, Managing Director of Small World commented “We have banked with Barclays since we founded the business in 2005 and are grateful for their on-going support. The investment by FF&P will enable us to continue to consolidate the fragmented European market place and we are excited about the prospects for the next few years.”
