Risk warning: The value of investments and derived income can fall. Investors may get back less than they invested.

Shard Credit Partners Secures Investment from Channel Capital to Boost Expansion in the GCC

LONDON, May 15, 2025 — Shard Credit Partners (“SCRP”), a UK-based private credit investment manager, has successfully secured an investment from Channel Capital Advisors LLP (“Channel”) in support of its trade finance activities, reinforcing its commitment to empowering growing corporates across the Gulf Cooperation Council (“GCC”) following the launch of its UAE operations last year. This investment will support the firm’s regional expansion, strengthening its trade finance capabilities and extending its reach across the GCC.

The funding, for an undisclosed amount, will be deployed to expand SCRP’s innovative trade financing solutions, enabling high-growth businesses to access much-needed capital in a rapidly evolving economic landscape. With this investment, the firm aims to strengthen its regional footprint and play a pivotal role in fostering corporate growth. The investment builds on the momentum of the UAE office opening in 2024 and positions the firm to capitalise on the region’s growing demand for structured trade finance solutions.

“This investment is a significant step in the expansion of our trade finance offering in the GCC. The UAE launch last year established our presence in the region, and this additional capital allows us to deepen our support for businesses navigating complex international trade flows.” — Chris Ash, Head of Shard Credit Partners Trade Finance

Channel, a global investment firm with a strong track record in structured credit and asset-backed lending, sees this partnership as an opportunity to drive further innovation in the trade finance sector and enhance liquidity for businesses operating across the GCC.

“This is another example that demonstrates Channel’s capability in providing investment within this sector. This opportunity combines our knowledge of financing the overall trade cycle with our experience of operating with businesses in this region.” — Tony Smedley, Director of Sales at Channel

Shard Credit Partners Trade Finance Ltd established its business in the UAE in May 2024 as part of its international expansion strategy and to address the funding gap for SMEs in the region. Since then, the firm has focused on structuring trade finance solutions that optimise working capital and mitigate risk for corporates operating across global supply chains. With this investment, SCRP will continue to strengthen its regional presence, expand its trade finance capabilities, and support the evolving capital requirements of businesses across the GCC.


About Channel

Channel provides high-quality, privately originated asset-backed investment products by originating, structuring, and managing investments for leading institutional investors. The firm specialises in opportunities from issuers in specialty finance and the innovation economy. For borrowers, Channel is a trusted partner in growth. Its expertise in structuring tailored financing solutions ensures businesses receive the capital needed to scale, with a streamlined process and terms designed to work for them. Channel is committed to delivering flexible, efficient, and growth-focused funding that empowers success.

Contact

Bhoomika Kesaria
Head of Investor Relations
Channel Capital Advisors LLP
+44 (0)20 7291 5160
investor.relations@channelcapital.co.uk


About Shard

Shard Credit Partners is an alternative investment fund manager focused on high cash yielding private credit strategies in the UK lower mid-market. Current assets under management is circa £200 million. Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with meaningful equity upside. Fund strategies include corporate direct lending, technology venture financing and international trade finance. SCRP is currently fundraising for its International Trade Finance strategy and is targeting to raise US$500 million from a mixture of institutional private credit investors, including local government pension funds, corporate pension funds, endowments, family offices and high net worth individuals classifying as sophisticated professional investors. SCRP has established a securitisation vehicle structure in Luxembourg which provides access to this strategy through the purchase of three or five year fixed income notes that will pay regular quarterly cash distributions derived from a diversified pool of short-term trade finance instruments. Investors further have the option of purchasing notes with an ISIN and or credit enhancement features including an investment grade credit wrapper from a reputable credit insurance provider. Investment portfolios tailored to meet the specific preferences and appetite of investors are available.

Shard Credit Partners Ltd is an Appointed Representative of Shard Capital AIFM LLP, authorised and regulated by the FCA (FRN 615463).

Contact

Benjamin Ellis
Business Development Director
Shard Credit Partners Limited
IR@shardcreditpartners.com

Business: info@shardcreditpartners.com
Website: www.shardcreditpartners.com

Shard Credit Partners’ Investee Company JST Completes Transformational Acquisition

On 24th December, 2024, JST Ports & Logistics Holdings Ltd (“JST”) completed the acquisition of the rail-handling and logistics company, RFS Works Ltd (“RFS”), for an enterprise value of £18.3 million from Aggregate Industries UK Ltd and GRS Roadstone Group Ltd.

RFS, headquartered in Harlow, Essex, is a leading provider of integrated services for bulk material handling, logistics, earthworks and heavy mobile equipment solutions, primarily focused on the rail transportation sector.

JST, based in Ayr, Scotland and operating throughout the UK, is an independent port handling specialist in the bulks and general cargo sectors, utilising its specialised fleet of mobile cranes and materials handling equipment.

The combination of the RFS and JST businesses will create the leading, independent, UK ports and rail logistics specialist with circa 200 employees, a materials handing fleet comprising more than 100 large machines, and combined annual revenues approaching £40 million.

This landmark transaction marks the second strategic add-on acquisition since the primary MBI of JST by Richard Jennings, backed by Shard Credit Partners Ltd, in December 2020.  In 2024, JST was awarded a King’s Award for Enterprise, for Innovation.

Both RFS and JST have histories dating back over 30-years and have developed unique and industry-leading positions in their respective sectors during this time.  Whilst RFS has historically focused on the bulk aggregates and construction materials sectors, JST serves a diverse base of customers handling a wide range of commodities including aggregates, timber, steel, agri-bulks, general bulks, recycling and alternative fuels.  The newly merged company will have the capability to offer uniquely integrated ports and rail materials handling, transportation and logistics services across the UK and Ireland.  Aggregate Industries and GRS will continue to work closely with RFS going forward.

Richard Jennings, CEO of JST said, “The acquisition and merger of JST with RFS is a deal that has been a long time in the making. The strategic fit and opportunity to drive real synergies on multiple fronts represents an exciting opportunity to enhance the overall service offering to all our customers and drive operating efficiencies.  We have been working closely with the senior leadership team at RFS and look forward to strengthening ties and building a market-leading business together in the coming months”.

Alastair Brown, Founder and CEO of Shard Credit Partners Ltd commented, “we are delighted to have been able to support Richard and his team in delivering this transformative acquisition and look forward to assisting in the integration of RFS with JST to drive significant value creation for our fund investors”.

JST is majority-owned by alternative investment fund manager Shard Credit Partners Ltd, through its UK SME direct lending strategy and current CEO, Richard Jennings, both having invested through an MBI in December 2020.

JST was advised on the acquisition by Newcastle-based RG Corporate Finance, with a team led by partner Carl Swansbury, supported by CF director Alex Simpson and CF manager Sam Shield.  JST received legal advice from Gateley, led by banking and finance partner Andrew Madden with Rebecca Mills and M&A advisory partner Oliver Harker supported by George de Stacpoole. Gateley also produced the legal due diligence report. Hickman Shearer undertook technical due diligence. Financial and tax due diligence was undertaken by Azets. AIUK and GRS Roadstone received legal advice from Addleshaw Goddard. Working capital and asset-based financing was arranged by Specialist Asset Finance Ltd via Cynergy Business Finance Ltd, who were advised by Shoosmiths, led by Natalie Barnes.


About Shard Credit Partners:

Shard Credit Partners is an alternative investment fund adviser focused on high cash yielding private credit strategies in the UK lower mid-market.  Current assets under management is circa £200 million.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with meaningful equity upside. Fund strategies include corporate direct lending, technology venture financing and international trade finance.

Shard Credit Partners successfully completed eleven primary investments and around thirty bolt-on acquisitions from its debut direct lending fund Shard Credit Partners Fund I, which held a first close in October 2017 at £90.2 million.  Shard Credit Partners plans to hold a first close on its second vintage UK lower mid-market direct lending fund with a target of £250 million during Q4 2025.

Shard Credit Partners invests in small to medium sized businesses with strong management teams, supporting them by providing transformative growth capital and event driven financing in support of innovation, growth and expansion.  The Fund invests in businesses across all sectors and throughout the UK.  The firm has a strong ESG focus; in particular, it is a strong supporter of female entrepreneurs and firms with meaningful female leadership, ownership and senior management.

Shard Credit Partners Ltd is an Appointed Representative of Shard Capital AIFM LLP, authorised and regulated by the FCA (FRN 615463).

 

Contact details:

Shard Credit Partners

Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

Shard Credit Partners Trade Finance Establishes Presence in Middle East with Dubai Office Opening and Business Launch

UK-based private credit investment manager Shard Credit Partners (“SCRP”), through its wholly-owned subsidiary SCRP Trade Finance Ltd, has expanded internationally with the recent launch of its new business in the United Arab Emirates (“UAE”). This strategic expansion marks a significant milestone in the build out of the company’s International Trade Finance strategy and further enhances its offering to businesses in the Middle East and worldwide.

SCRP launched its International Trade Finance strategy in 2022 and already serves a diversified base of SMEs customers throughout the UK and UAE.

The new UAE office will serve as a hub for SCRP Trade Finance operations in the region, offering trade finance solutions to meet the diverse needs of businesses engaged in both domestic and cross-border trade. With experienced professionals on the ground and a deep understanding of the local market dynamics, SCRP Trade Finance aims to provide seamless and efficient financial support to businesses seeking to grow their trading revenues.

“We are delighted to establish our presence in Dubai, a vibrant economic hub with immense potential for growth and development. By opening this office, we reaffirm our commitment to empowering emerging corporates and SME businesses in the Middle East and beyond with trade finance solutions that drive expansion, foster economic prosperity, and facilitate global trade” said Moiz Akbar, SCRP’s Dubai based Partner in the International Trade Finance strategy.

Chris Ash, Head of International Trade Finance at SCRP Trade Finance, added “as the world economy emerges from the aftershocks of the Covid 19 pandemic, the availability of working capital solutions has become more challenging, especially for the mid and lower mid-market trading communities. Our expansion into this vital trading hub will improve local access for businesses that require incremental financial support.”

SCRP Trade Finance is committed to providing transactional capital to address the capital needs of businesses engaged in cross-border trade; structuring trade finance transactions to optimise financial efficiency and mitigate risks effectively.

Alastair Brown, CEO of Shard Credit Partners Ltd commented,

“Our International Trade Finance strategy offers seasoned private credit investors an interesting alternative to traditional direct lending, with the opportunity for higher cash yields in the high teens and shorter commitment durations of just two to three years. As the underlying trades are self-liquidating, this facilitates rapid recycling of investor capital and return realisation. Investors also have a broader range of investment channels to choose from with this strategy, including investing by purchasing fixed and variable coupon notes issued by a Luxembourg securitisation vehicle, with dedicated investor compartments and an ISIN if desired.”

The opening of the UAE office underscores SCRP’s commitment to structuring innovative financing solutions for its SME clients, fostering long-term partnerships and facilitating business expansion and cross border trade. Having already extended trade finance facilities to existing GCC clients, this expansion will not only deepen ties with current relationships but also underscores SCRP’s confidence in the region for growth and collaboration.

Continue reading “Shard Credit Partners Trade Finance Establishes Presence in Middle East with Dubai Office Opening and Business Launch”

Shard Credit Partners’ Investee Company Awarded a King’s Award for Enterprise.

An investee company of Shard Credit Partners Direct Lending Fund I, JST Floating Piers Ltd (“JST”), based in Ayrshire, Scotland, has been honoured with a King’s Award for Enterprise for Innovation.

JST is one of 252 organisations nationally to be recognised with a prestigious King’s Award for Enterprise, and one of only 59 UK companies recognised for its excellence in Innovation.

Employing 63 people, JST Services (Scotland) Ltd was founded in 1993, and a separate Floating Piers division was established in 2007.

JST is a logistics company active in the port services sector, providing operations throughout the United Kingdom and Ireland.  The company is particularly active in delivering asset-based logistic solutions to the forest sector. JST’s innovative mobile Floating Piers have made it possible for large capacity cargo ships to berth directly adjacent to remote forests. With a network of three Floating Piers, JST’s technology has created economies of scale that enable Scottish logs to move to from estates in the remote Highlands to markets in the Central Belt, Southern Ireland, and South Wales.

JST’s Floating Piers are part of the broader drive towards Net Zero, with each cargo ship loaded at one of the piers removing some 200 HGV truck journeys from Scotland’s rural roads.

Richard Jennings, Managing Director of JST Services Group, said, “As a service business, receiving the Kings Award for Innovation is an absolute honour for the company and a huge testament to our employees, partners and customers.”

A Royal reception will be held for award recipients during the summer of 2024.

The King’s Awards for Enterprise, previously known as The Queen’s Awards for Enterprise, was renamed last year to reflect His Majesty The King’s desire to continue the legacy of Her Majesty Queen Elizabeth by recognising outstanding UK businesses. The Awards programme, now in its 58th year, is the most prestigious business award in the UK. Successful companies can use the esteemed King’s Awards Emblem for the next five years.

Visit https://www.gov.uk/kings-awards-for-enterprise for more information.

 

Continue reading “Shard Credit Partners’ Investee Company Awarded a King’s Award for Enterprise.”

Understanding Trade Finance & Its Impact on Global Markets

Chris Ash, Head of Trade Finance at Shard Credit Partners joins Bill Blain, Market Strategist for Shard Capital on this week’s edition of the Shard Capital Podcast to discuss the recent disruption in the Red Sea, and the impact it is having on global trade routes.

The duo evaluate how various factors influence consumer prices and trade finance investments, providing insight into the resilience and adaptability of global shipping markets, and the specific returns generated by trade finance funds.

 

Listen in on the conversation below 👇🏼

 

Recorded 14th March 2024

Continue reading “Understanding Trade Finance & Its Impact on Global Markets”

Trade Finance, an asset class to help you navigate today’s choppy seas

Container Ship passing through the Suez Canal 

 

Approximately 12% of global trade , valued at over $1 trillion, passes through the Suez Canal. In the case of Europe/Asia specific trades, this figure rises to 40%. The canal has long been a vital artery for world trade, saving significant time and distance, particularly for goods traveling between East Asia and Western Europe. According to Egypt’s Suez Canal Authority (“SCA”), the waterway hosts 50 vessels a day, carrying between $3 to 9 billion worth of cargo combined. 28% of these vessels are large container ships carrying up to 20,000 containers each.

The importance of the Suez Canal was highlighted in 2021 when the Ever Given blocked the canal for six days causing extensive delays for over 400 vessels and necessitating lengthy detours around the Cape for many others. Presently, due to ongoing geopolitical events in the West Bank and retaliatory actions by Yemen’s Houthi rebels, delays of up to four weeks are being experienced, leading to significant increase in container rates for vessels that would typically transit the canal. Shipping lines are compelled to opt for the longer route around the Cape of Good Hope.

Fortunately, the shipping industry’s significant overcapacity following the Covid-19 pandemic has helped alleviate the current situation to some extent. However, prolonged tensions in Gaza could result in potential shortages, particularly for consumer goods reliant on shorter transit times. Whilst the timing of the Chinese New Year has mitigated some impact, a shortage of empty shipping containers, which caused a sharp increase in freight rates during the pandemic, has yet to materialise. Nonetheless, the rapid rise in container rates is likely to exert inflationary pressure on goods prices if the situation persists.

Goods with lower profit margins, dependent on competitive container prices, are particularly susceptible to short term price fluctuations. Despite these challenges, traders have become more resilient in the post-pandemic era. The long-term outlook for shipping is that over-capacity will remain a significant factor through 2024 and 2025 in dictating normalised shipping rates, whilst economies around the world make the slow climb out of recession. ING Research sights 27% of additional capacity coming on stream during this period, whilst scrapping is running at only 6.25% of new vessels. Over-capacity has recently been mitigated by “slow-steaming”, the process of operating a container ship significantly under their maximum speed. However, there is considerable availability nonetheless. The current spike in container rates being experienced is wholly event driven and an extreme dislocation of the base trends. The current increase in rates is wholly disproportionate to the actual economic cost of elongated transit times, and as the Pandemic experience demonstrated, rates crashed down very quickly, falling by as much as 90% from their Covid-19 peak.

At Shard Credit Partners (“SCRP”) Trade Finance, we stand by our clients during these challenging times, offering extended tenors on trades adversely affected by current events. Only a handful of trades were impacted. Our trading lines of credit are designed for flexibility, allowing us and our clients to adapt swiftly to changing circumstances and mitigate risks before shipment. The container rates on our trades are set before SCRP engages in a transaction, so if the economics of the trade do not stack up, the Trade Finance team do not enter into the transaction. Furthermore, we ensure goods are insured for 110% of their value against piracy or loss, and regular interaction with counterparties helps manage risks for all stakeholders involved in the trades we finance.

Through SCRP’s robust and flexible investment approach, we:

  • Generate market leading risk adjusted returns which are not correlated to world events
  • Deliver a diversified and dynamic portfolio of trades across jurisdiction, tenor and sector
  • Offer downside protection by being extremely adaptive to micro and macro-economic factors due to the short tenor and nature of transactions, and the uncommitted nature of the facilities offered
  • Share our deep knowledge and insights on one of the oldest forms of finance

 

Chris Ash Head of Trade Finance comments:

“SCRP’s dynamic Trade Finance Offering is well placed to meet the ever-changing landscape that our clients face. We pride ourselves in being able to support and advise businesses on trading securely, regardless of the challenges which may be encountered. Trade always finds a way despite headwinds, and following the pandemic, is more robust than ever before. The short term nature of trade finance makes the asset class extremely responsive to world events, and offers a very secure investment opportunity when compared to other forms of finance.”

Continue reading “Trade Finance, an asset class to help you navigate today’s choppy seas”

Shard Credit Partners goes on a Scottish road trip with JST Ports and Logistics Holdings Ltd

JST’s floating pier operation at Loch Etive

It is difficult to imagine a more idyllic work location than on the shoreline of Loch Etive in the Scottish Highlands. We are several hours drive from Glasgow, which is 104 miles southwest of here. The land quickly steepens away from the loch and in every direction mountains carved out from the granite complex of Etive rise up to meet the skyline.  Notable peaks include Ben Starav at 1,078 metres above sea level, visible in the photo above.

The area is sparsely inhabited, with the primary economic activities being tourism (hiking, fishing and deer stalking), shellfish harvesting, hydroelectric power generation and commercial forestry management. Timber production from sustainably managed forestry and timber processing is an important industry throughout the Scottish Highlands and Islands, contributing nearly £771 million to Scottish GDP annually. In areas that are sparsely populated and far from urban centres, the Scottish timber industry provides full time employment for 19,555 people (source: Scottish Forestry).

 

Timber transportation and logistics industry, banks of Loch Etive
Timber transportation and logistics industry, banks of Loch Etive

Loch Etive, around twenty miles long, is a sea loch which runs approximately north-east to south-west and bisects a designated ‘wild land area’ of 507 km2, just south of Glencoe.  The area, largely uninhabited, is encircled by A roads (the A82 over Rannoch Moor and the A85 around Loch Awe), but the only vehicular access to the shores of the loch is via the twelve mile long single track Glen Etive road (made famous by the James Bond film ‘Skyfall’).  This makes the high volume transportation of felled roundwood timber from the woodlands to processing centres located around the UK and elsewhere challenging, to say the least.

Loch Etive Woods is a designated special area of conservation spanning 2,643 hectares.  60% of this area is taken up by broad-leaved deciduous woodland comprising of ash, hazel and sessile oak habitats, but 3.5% is coniferous woodland. The Scottish Forestry Commission manage a couple of hundred acres of commercial pine forests bordering the loch, harvesting 30,000 tonnes of roundwood timber per annum.  From here it must be transported tens, or hundreds of miles to processing centres as far afield as Birkenhead, where it can be turned into useful commercial products.

 

A cargo ship being loaded up with roundwood logs from JST’s floating pier at Loch Etive

Such remoteness, combined with restricted vehicular access, pits the needs of the Scottish forestry industry against the needs of local tourism, upon which the local economy also depends.  In order to prevent relentless summer traffic jams, clogging up single track lanes with articulated lorries transporting 25 tons per load of freshly harvested roundwood timber out of the forests and away to timber processing centres such as Fort William, alternative strategies must be seriously considered. JST Services (Scotland) Limited (“JST”), a portfolio investment company of Shard Credit Partners, has been innovating in this industry for several decades, becoming a reliable partner within the Scottish commercial forestry ecosystem.

Given the vast watery expanse of Loch Etive, which being a sea loch is conveniently linked to the open waters of the North Atlantic, transportation via ship provides a welcome alternative to road transportation. However, timber plantations can take several decades to mature, with relatively modest extraction volumes. This means it is uneconomical to construct and maintain a permanent pier or port infrastructure to moor sea vessels onto. To get around this, JST has invented the concept of the floating pier, which is movable, can be transferred from location to location by tug boat, and leaves virtually no impact on the local ecology when removed.  JST operates three floating piers at remote locations throughout the Scottish Highlands.

 

JST’s mobile cranes loading timber from its floating pier operations at Loch Etive

The floating pier (shown in the photo above) consists of a steel bridge, which is connected to the shoreline at one end and is mounted on a recommissioned barge at the other, with a strengthened surface so that it can take the weight of a fully loaded timber lorry and a large crane. The timber is driven over the bridge and onto the floating pier, where it is lifted straight off the lorry and into the hold of a waiting cargo ship. Each ship can accommodate between 900 and 2,500 tonnes of roundwood logs, which takes JST’s skilled crane operators between a half and one full day to load each vessel.

The annual CO2 savings from transporting felled timber by sea, rather than by road, are significant. Each year around 30,000 tonnes of logs are expected to be moved by ship from the floating pier at Glen Etive to saw-mills in northern Scotland and north-west England, where they are turned into FSC-certified timber products for fencing, landscaping, cladding, house construction and furniture.  Some 33 ships per year are expected to be moved from Glen Etive, producing an estimated 233 tonnes of CO2 when the final road miles and log handling equipment is factored in.  If these logs were instead to be transported solely by road, the equivalent CO2 impact would be around three times at around 640 tonnes, generating a net saving of approximately 317 tonnes of CO2 annually and removing around 317,000 HGV road miles – even ignoring the negative impact and cost from HGV’s using unsealed Highland single-track roads and the impact on the tourist economy.

The floating pier operation at Loch Etive is just one example of how JST is bringing innovation to the transportation and logistics sector to facilitate the decarbonisation of the UK forest products industry.  JST operates floating pier operations at two other locations in Scotland – one at Ardcastle on the western shore of Loch Fyne and another on the Morvern and Ardnamurchan Peninsulas in the West Highlands. In total, JST estimates its floating pier operations help to reduce emissions of CO2 produced as a result of timber transportation from Scotland to the rest of the UK by around 2,574 metric tonnes annually, saving 1.75 million HGV road miles per annum.

Continue reading “Shard Credit Partners goes on a Scottish road trip with JST Ports and Logistics Holdings Ltd”

Shard Credit Partners Direct Lending Fund I posts second exit with GadCap Debt Repayment

(Photo shows key senior management Paul Seccombe (left) and Michael Baker (right))

 

GadCap Technical Solutions Ltd (“GadCap”) has completed its final debt repayment to Shard Credit Partners Direct Lending Fund I, five years after completing its debt-funded primary MBO in February 2019.

GadCap was established through the spin out of the business and assets of the power generation and aerospace solutions division of a multinational engineering conglomerate in the North East of England.

The direct lending investment by Shard Credit Partners was the first of several primary non-sponsored MBOs financed from its inaugural UK lower mid-market direct lending fund.

Despite encountering numerous macroeconomic challenges throughout its first five years as an independent business, GadCap never missed an interest payment and ensured that it repaid the maximum amount of debt possible each year from surplus cash generated from operations.

 

Alastair Brown, CEO of Shard Credit Partners commented:

“The MBO of GadCap is a model for uncomplicated private credit investing in the UK lower mid-market.  The senior management team are now in the enviable position of owning a significant majority of the ordinary shares in a highly cash generative business with zero debt outstanding.  As a minority shareholder alongside Paul and Michael we look forward to the next stage of our exciting journey together”.

Michael Baker said:

“We will be eternally grateful to Shard Credit Partners for providing us initially with the funds to secure the MBO, but also for their continued belief in the team and the support given over these past five years in helping us realise and achieve our goals.”

Paul Seccombe added:

“We are immensely proud, having come through a couple of uncertain economic years to have successfully paid off the facility loan after five years as we set out in our business plan when forming the company.  We are now in position to review our strategy and provide a platform for the future using Shard as our credit partner as we continue our venture.”

 

Continue reading “Shard Credit Partners Direct Lending Fund I posts second exit with GadCap Debt Repayment”

Shard Credit Partners invests £1.6 million in Location Sciences Group PLC to support Sorted Group Holdings Limited acquisition and AIM listing.

Shard Credit Partners has completed a cash equity investment of £1.6 million from its Venture Debt Fund I in support of the acquisition of Sorted Holdings Limited by Location Sciences Group PLC and listing on AIM.

The newly enlarged group will trade on AIM as Sorted Group Holdings PLC (SORT).

 

The transaction provides the enlarged group with the investment necessary to continue implementing its business strategy and serving its corporate and enterprise retail customers, which include M&S, Boohoo and Asda. It will enable Sorted to continue its mission to bring ecommerce retailers of all sizes confidence in every delivery, every time.

Shard Credit Partners provided Sorted Holdings Limited with a £3.0 million senior secured venture debt facility in September 2022. Since then, the private credit investment firm has continued to provide investment capital in support of a successful organic growth strategy led by CEO Carmen Carey.

Carmen Carey, CEO of Sorted commented:

“Shard Credit Partners has stepped up once again and proven to be a reliable and trusted financial partner. Their latest equity investment in support of our AIM listing demonstrates a strong commitment to our continued growth story.”

Alastair Brown, CEO and Founder of Shard Credit Partners commented:

“we are delighted to be supporting Carmen and her team as Sorted embarks upon the next exciting phase of its journey as an AIM listed company. We hope this IPO heralds a turning point for the UK’s homegrown technology sector”.

Simon Wilkinson, Petar Cvetkovic and Dr Nigel Burton join Sorted’s board, with Mahmud Kamani and Richard Hughes also investing in the group.

Wilkinson is a highly experienced software executive and entrepreneur, having held senior leadership positions in a number of public and private companies throughout his career. Simon is investing in the group, alongside Mahmud Kamani, the founder of Boohoo Group, and Richard Hughes, the founder of Zeus Capital.

Additionally, Petar Cvetkovic and Dr Nigel Burton will join the Sorted board as Non-Executive Directors. Cvetkovic is Founder & Chairman of Welford Investments and was formerly the Chief Executive Officer of DX (Group) Plc and Target Express, and Dr Burton is currently a Non-Executive Director of BlackRock Throgmorton Investment Trust PLC, DeepVerge PLC, eEnergy Group PLC, Mobile

Streams PLC and Microsaic Systems PLC. Mahmoud Warriah, the CFO for the enlarged group, will join Carmen Carey, CEO of Sorted Group Holdings PLC, as Executive Director.

Founded more than a decade ago and recognised as one of the fastest growing companies in Europe by the Financial Times, Sorted delivers transformational tech on a global scale. Trusted by leading retailers – such as ASOS and Asda – Sorted helps brands to make five-star delivery experiences their superpower.

Shard Credit Partners was advised by Scott Morrison, Partner at Orrick LLP and Simon Whiteside, Tax Partner at Ryecroft Glenton and Nicoletta Papademetris, Matt Barr and David Tran at BDO LLP.

Continue reading “Shard Credit Partners invests £1.6 million in Location Sciences Group PLC to support Sorted Group Holdings Limited acquisition and AIM listing.”

JST Services (Scotland) Ltd completes acquisition of pier and haulage division of TSL Contractors Limited, Isle of Mull, West Coast of Scotland.

Roundwood timber being loaded onto a cargo ship at Fishnish Pier, Isle of Mull.

 

Shard Credit Partners’ investee company JST Services (Scotland) Ltd (“JST”) has acquired the pier and haulage division of TSL Contractors Limited (“TSL”), located on the Isle of Mull off the West Coast of Scotland. This strategic acquisition extends JST’s operations in the Scottish timber transportation and logistics industry. Approximately 50,000 tonnes of roundwood logs are loaded onto cargo ships at Fishnish pier each year, to be transported across the open sea to processing centres on the UK mainland.

JST is a unique provider of mobile port logistics and materials handling and transportation services at ports around the UK and Ireland. From its base in Ayrshire, South West Scotland, JST operates a fleet of mobile cranes, timber haulage vehicles, timber handling vehicles, and mobile port handling equipment. Much of its equipment has been developed specially with its clients and equipment manufacturers to undertake complex materials handling tasks, creating a unique IP and patent base.

TSL has operated Fishnish pier on an exclusive basis on the Isle of Mull since its construction in 2014 on behalf of the Scottish Forestry Commission (Forest and Land Scotland) which manages 470,000 hectares of Scotland’s forests and woodlands. TSL’s fleet of HGV’s haul around 50,000 tonnes of timber per year from the surrounding Mull forests to the pier, where it is loaded directly onto cargo ships for transport to timber processing facilities. This operation provides valuable economic activity in a sparsely populated area of the country, in addition to providing an essential service in the maintenance of the ecological supply-chain of the island.

The Fishnish pier activities on Mull are viewed as being particularly attractive to JST, not only from an economic perspective, but also from a strategic perspective. The integration of the Fishnish pier operation into the wider JST Floating Piers division strengthens its network and offering to customer engaged in sustaining the Scottish commercial forestry industry.

Richard Jennings, managing director of JST said:

“This strategic bolt on acquisition to JST’s Floating Piers division in Scotland will enable us to further expand our offering to key customers, especially the Scottish Forestry Commission”.

Alastair Brown, CEO of Shard Credit Partners, comments:

“this acquisition is strongly accretive and will help to accelerate JST’s expansion in the Highlands and Islands, complimenting recent strong organic growth achieved throughout the UK and Ireland since our investment in the business three years ago”.

Legal advice to JST was provided by Gateley Legal, led by Oliver Harker. Financial DD was provided by Azets, led by Graham Cunning and Joseph Sheridan.

Shard Credit Partners’ strategy is to become a leading provider of capital to entrepreneur and management-owned high growth businesses and private equity-owned companies focused on achieving transformational growth and expansion in the UK regions.  During the past five years, Shard Credit Partners has invested more than £150.0 million in supporting regional Management Buy-Out transactions throughout the UK regions and M&A buy-and-build acquisition strategies, as well as growth capital expenditure financing.

Continue reading “JST Services (Scotland) Ltd completes acquisition of pier and haulage division of TSL Contractors Limited, Isle of Mull, West Coast of Scotland.”