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

Shard Credit Partners provides additional funding in support of MAPD’s acquisition of a majority stake in Bermans.

Shard Credit Partners has provided additional senior debt facilities to The MAPD Group (“MAPD”) in support of its acquisition of a majority shareholding in Bermans (2012) Limited (“Bermans”), a North-West based commercial law firm specialising in invoice and asset finance.

This is the largest acquisition by MAPD to date, as it seeks to consolidate the highly fragmented legal services sector across the UK market.  This brings total financing provided by Shard Credit Partners to MAPD in support of its buy and build acquisition strategy to £13.2 million, since March 2020.

Bermans is a highly regarded commercial law firm specialising in asset finance and invoice finance legal services.  The business employs 72 staff and operates from two offices located in Manchester and Liverpool.  The acquisition of Bermans also bolsters MAPD’s property, corporate law and litigation legal services throughout the north-west of England.  The acquisition adds significant value to MAPD as the group continues to execute its strategy of organic and acquisitive growth.

MAPD stands for ‘Making a Positive Difference’.  It is building a group of successful law firms, propelled by a single shared purpose; Making a Positive Difference.  This ethos fuels business performance, motivates people, leads MAPD to deliver high quality work for their clients and roots firms more deeply in the communities, focusing on sustainable growth.

MAPD acquired the Jackson Lees Group (comprising Jackson Lees and Broudie Jackson Canter) in March 2020, and Myers and Co., in 2021.  The business is looking to invest in aligned businesses within the legal sector via a nationwide acquisition strategy.

Brian Cullen, CEO of MAPD said: “We’re really pleased that Shard Credit Partners shares our vision.  Our approach is based on acquiring strong regional law firms and giving them the rocket fuel they need to take them to the next level. We say ‘powered by MAPD’, our approach is to make something that’s already good, great.

“We did a lot of research and learning around different models prior to settling on the approach we now have.  Once we decided that MAPD is a movement, not a business, it became much clearer.  We are serious about Making a Positive Difference. It is so fundamental to our success, it became our name.

“Our approach is such that we don’t come in and do things to people we come in and do things with people. The strength of the law firms we are buying comes from the brand equity and the people.”

Alastair Brown, CEO at Shard Credit Partners, commented: “The acquisition of Bermans marks a substantial leap forward for MAPD’s proven strategy of growth through acquisition, as it seeks to become a major player in the UK’s fragmented legal services market.  We share Brian and Joanna’s vision for growth and look forward to working with them as they continue to expand the platform into other regions of the UK through further acquisitions”.

Legal advice to MAPD was provided by O’Connors, led by David Malone, Natasha Lackner and Craig Geraghty.  Strategic M&A advice was provided by Dow Schofield Watts, led by James Curtis and Connor Monaghan.  Legal advice to Shard Credit Partners was provided by Gateley Legal.

Shard Credit Partners’ strategy is to become a leading provider of flexible and patient capital to entrepreneur and management-owned companies located throughout the UK, with a strong focus on driving transformational growth and jobs creation.  Since 2017, Shard Credit Partners has invested more than £150 million in supporting regional Management Buy-Out transactions and M&A buy-and-build acquisition strategies, as well as growth capital expenditure financing.

 


 

About Shard Credit Partners:

Shard Credit Partners Limited is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside.  Fund strategies include SME direct lending and tech-focused venture debt.

Assets under management currently total circa £200 million, allocated between two investment strategies.  Investors include UK governmental organisations and public and private pension funds in the UK and Europe and Asia.

Shard Credit Partners is currently fundraising for its second vintage direct lending fund, which is expected to hold a first close during the first half of 2023.

Shard Credit Partners has a strong ESG focus, with a particular focus on backing businesses with demonstrable board diversity and ownership.  Across both investment strategies, 90% of Shard Credit Partners’ borrowers have at least one woman on the board and around two thirds have mixed sex ownership.  Shard Credit Partners was an early adopter of ESG covenants and ESG margin ratchets and these instruments are now standard in all its loan agreements.

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

Contact details:

Newgate Communications

 

Tel: Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@newgatecomms.com

Shard Credit Partners Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

 

Shard Credit Partners provides loan funding in support of female-led MBO of NAC Group.

Shard Credit Partners has provided committed senior debt financing in support of a predominantly female-led management buy-out of independent training provider NAC Group, incorporating NA College, located in Washington, Tyne & Wear, North-east UK.  NAC Group is targeting expanding its vocational, industry focused training following the investment.

The provision of the loan funding from Shard Credit Partners also represents its growing support for the education sector with this latest investment aimed at providing greater opportunities for young people to establish careers in the engineering and automotive sectors, in the North-east in particular.

Founded by Paul and Wendy Robson, the Washington-based training company offers a suite of courses ranging from school engagement activities through to highly respected apprenticeships and post-19 skills programmes.

Originally established to support apprenticeships and skills development for the advanced manufacturing automotive sector, NA College now works with a wide range of employers with skills training in areas such as Business Improvement, Lean Manufacturing, Engineering, Supply Chain, Warehousing and Management.

From 2020 NA College also became a partner of the North East Institute of Technology (IoT), a collaboration between education colleges, universities, and leading employers to strengthen the Higher Technical Education offering in the region.  The IoT training offer is shaped to satisfy employers emerging skills demand in digital, electrification and sustainability and business improvement to train future leaders to support the transition to a Net-zero economy.

Currently holding a ‘Good’ Ofsted rating, NA College also works in partnership with New College Durham, South Tyneside Council, Sunderland College and provides services through the Department for Education (DfE).

The MBO has been led by four members of the college’s senior management team.  Lisa Snaith has taken the role of Chief Finance and Executive Officer, Margherita Pasquariello, Chief Strategy and Executive Officer, Steve Pallas, Operations Director, and Lindsey Vickerson, Head of HR and ESG.   Founder Paul Robson will remain with the company as Chairman.

Corporate finance advice was provided to management and Shard Credit Partners by Newcastle-based RG Corporate Finance, led by Partner and Head of Corporate Finance Carl Swansbury, CF Director Rhiannon Nightingale and CF Senior Manager Connor McBride.

Legal advice to Shard Credit Partners was provided by Andrew Madden, Alison Davidson-Cox and Andrew Cowan from Gateley Plc, whilst the management team was advised by Paul Christian, Imogen Holland and Nicole Axon of Ward Hadaway.  Financial due diligence was undertaken on behalf of Shard Credit Partners by RMT, led by Michael Cantwell and Ayden De Beer.

Paul and Wendy Robson received corporate finance advice from TIG Corporate Finance, led by Barry Gill, with legal advice from Mark Lazenby, partner at commercial law firm Square One Law.

Lisa Snaith said: “The demand for high quality vocational training is increasing, both from young people who recognise apprenticeships as a worthy route to a career, and from employers that are utilising our training to improve productivity and remain competitive.

“NA College has established a superb reputation in the manufacturing and engineering markets, particularly automotive and we are very proud to be able to build upon the outstanding achievements of the company under the direction of Paul and Wendy as owners of the business, working closely with Shard Credit Partners.”

Alastair Brown, CEO of Shard Credit Partners, said: “For the economy to succeed it is vital that the UK fills the skills gaps that exist in key industries with the support of high-quality training providers such as NA College.”

“We’re also delighted to be supporting, what is unfortunately still quite rare, a predominantly female-led management buy-out team.  With our financial support, we are keen to see the college enhance its provision of courses and training opportunities to meet the evolving need of businesses in the UK.”

Carl Swansbury, Partner and Head of Corporate Finance at RG Corporate Finance said: “Shard Credit Partners has identified the opportunity to support the new directors in their ambitions for the college to play a greater role in vocational training in the North East. Private training providers such as NA College are a key contributor to meeting the skills requirements of the UK and in particular critical industries such as advanced manufacturing. We look forward to seeing the management team and Shard Credit Partners continue to grow and develop NA College over the coming months and years.”

Shard Credit Partners’ strategy is to be the UK’s leading provider of flexible and patient capital to entrepreneur and management-owned companies located throughout the UK, with a strong focus on driving transformational growth and job creation.  Since 2017, Shard Credit Partners has invested more than £150 million in supporting regional Management Buy-Out transactions and M&A buy-and-build acquisition strategies, as well as growth capital expenditure financing.

 


 

About Shard Credit Partners:

Shard Credit Partners Limited is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside.  Fund strategies include SME direct lending and tech-focused venture debt.

Assets under management currently total circa £200 million, allocated between two investment strategies.  Investors include UK governmental organisations and public and private pension funds in the UK and Europe and Asia.

Shard Credit Partners is currently fundraising for its second vintage direct lending fund, which is expected to hold a first close during 2023.

Shard Credit Partners has a strong ESG focus, with a particular focus on backing businesses with demonstrable board diversity and ownership.  Across both investment strategies, 90% of Shard Credit Partners’ borrowers have at least one woman on the board and around two thirds have mixed sex ownership.  Shard Credit Partners was an early adopter of ESG covenants and ESG margin ratchets and these instruments are now standard in all its loan agreements.

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

Contact details:

Newgate Communications

 

Tel: Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@newgatecomms.com

Shard Credit Partners Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

 

Shard Credit Partners completes fourth venture debt investment with £3.0 million loan to Sorted.

Shard Credit Partners has completed its fourth investment from its landmark UK technology focused venture debt fund. Sorted has secured £3.0 million of loan funding to support the growth and expansion of the business across existing and new markets.

Sorted is a Manchester-based software business that supports retailers in providing exceptional delivery experiences and analysing post-purchase performance. It empowers customers to track deliveries and returns or exchange parcels effortlessly. The company has grown rapidly in recent years and now provides its services to a wide range of leading UK retailers, such as ASOS, M&S, Dunelm and ASDA.

Shard Credit Partners held the first close of its inaugural venture debt fund in June 2022.  Several high-profile institutional investors are expected to commit to the fund in the coming months. The firm is targeting a final close at £75 million by Q2 2023, with a hard cap of £100 million.

William Chappel, Head of Venture Debt at Shard Credit Partners, said; “we are delighted to be providing finance to support Sorted. We have been tracking this name since 2018 and have been hugely impressed by how the business has flourished since that time. We can’t wait to work closer with its CEO, Carmen Carey, and the wider team as the business continues to expand. This is a strong addition to our UK technology-focused venture debt fund, and a key example of our focus on our meaningful approach to ESG, in particular, supporting female led businesses across all regions of the UK.

Carmen Carey, CEO of Sorted commented, “Customers are now expecting – and demanding – faultless delivery and returns experiences as standard, regardless of whether they order from a large multinational brand or a small business. In turn, the next stage in Sorted’s journey is set to provide the SMB market with exceptional delivery and returns capabilities. This latest round of funding will help drive Sorted’s vision, enabling seamless experiences for customers globally, especially as we begin to enter the US  market.”

Alastair Brown, CEO of Shard Credit Partners commented; “since launching the new venture debt fund in June, our first close investors have continued to enjoy rapid deployment, with a fourth investment now completed.  Will and his team continue to maintain a robust pipeline of high-quality investments that will ensure the fund remains significantly invested, even as we grow our assets under management with subsequent fund closes through the remainder of 2022.”

Legal advice to Shard Credit Partners was provided by Orrick LLP, led by Partner Scott Morrison and supported by Hridi Chowdhury.

 


About Shard Credit Partners Limited:       
Shard Credit Partners Limited is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside. Fund strategies include SME direct lending and tech-focused venture debt.

Shard Credit Partners Limited is currently investing 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 Limited plans to hold a first close on its second UK lower mid-market direct lending fund during Q2 2023.

Shard Credit Partners Limited invests in solid 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 funds invest in businesses throughout the UK.

Recent investments include the venture debt financings for Growth Intelligence in July 2022 and for Rezatec Limited in August 2021, the refinancing and shareholder reorganisation of Midwest Mechanical and Electrical Services Ltd in August 2021, as well as the financing in support of the acquisition of The Technology Group by Gradwell Communications in March 2021. The SME direct lending fund also funded the MBI of JST Services Ltd in Scotland, the MBO and buy-and-build strategy of eQuality Solutions Ltd in the North-East of England, and the MBO of Chameleon Technology (UK) Ltd in Harrogate, North Yorkshire, each of which completed in December 2020.

In 2020, Shard Credit Partners Limited ranked eighth in the Debtwire UK Direct Lender league table published by Acuris. Shard Credit Partners Limited was recently awarded Alternative Finance Provider of the Year 2021 (North-East region) at the Insider Media Dealmakers Awards.

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

 

 


Contact details:

Newgate Communications

 

Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@newgatecomms.com

 

Shard Credit Partners Limited

 

Head of Business Development: ben.ellis@shardcreditpartners.com

Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

Shard Credit Partners Limited Holds First Close on New £75 million Venture Debt Fund I

Shard Credit Partners Limited announces the successful first close of its inaugural UK technology-focused venture debt fund, with £16.5 million in commitments from UK and European institutional investors, alongside UK technology industry entrepreneurs.  The fund will make investments in senior secured loans with equity warrants to venture capital backed businesses in the B2B SaaS and Fintech sectors located throughout the UK.

Shard Credit Partners Limited’s new fund will target borrowers with annual recurring revenues of at least £2.0 million, that are finding it increasingly difficult to source long-term financing from traditional lenders.  The fund will provide flexible venture loan capital in support of sales growth, through increased expenditure on marketing initiatives.  Typical loan sizes will range between £2.0-6.0 million per borrower, with maturities of up to five years.

The fund has already completed two investments with total commitments of £6.5 million ahead of first close.  This included the fund’s first exit in December 2021, PassFort, which generated a total gross IRR of 249.2% in just six months (1.8x multiple on invested capital).  The fund aims to complete around 15 investments per annum during the three year investment period.

Venture debt is becoming increasingly popular with high growth technology companies globally in recent years.  The asset class is highly developed in the United States, having positively tracked the strong growth in the venture equity market during the last two decades.  The venture lending market is in its infancy in the UK and remains an area that is materially underserved, which has created an opportunity for innovative private credit managers to raise dedicated technology venture debt funds.

Market demand for venture debt in the UK is being driven on the back of very strong growth in the technology venture capital sector over the past decade, which now comprises approximately 13,000 post series A technology companies.  This represents a significant addressable market opportunity for specialist UK technology venture debt funds, such as the one launched by Shard Credit Partners Limited.

William Chappel, Head of Venture Debt for Shard Credit Partners Limited, said “We are delighted to hold our first close of the fund and we look forward to continuing to support fast-growth businesses across the software as a service and fintech sectors.  We aim to become the ‘go-to’ debt provider for venture capital-backed high growth technology businesses in the UK”.

Alastair Brown, Chief Executive of Shard Credit Partners Limited, commented, “The successful launch of our inaugural UK technology venture debt fund, just one year after launching this unique strategy, is a testament to the hard work of everyone that has been involved and is something to be proud of.  It further cements our position as a specialist private credit manager in the UK and continental European direct lending marketplace, successfully investing in strategies having a senior secured risk profile and generating high teens double digit gross returns for our institutional investor base”.

Shard Credit Partners Limited is currently in advanced discussions with several UK and international institutional investors with regard to participating in subsequent fund closes throughout summer 2022.  The target fund size at final close is £75 million, with a hard cap at £100 million, by June 2023.

Shard Credit Partners Limited has a strong focus on ESG across all its private credit investments and has historically been a strong supporter of female entrepreneurs and firms with meaningful female leadership, ownership, and senior management.  No less than 80% of its investee companies have female board representation and 60% have mixed sex equity ownership, a direct result of Shard Credit Partners Limited’s implementation of ESG covenants and ESG margin ratchets in its loan agreements and investment documentation as standard.

The funds team at Stephenson Harwood led by Partner Sarah de Ste Croix and supported by Arooj Khan and Hugo Mayes, provided fund formation advice to Shard Credit Partners Limited.  The funds team at BDO, led by Partner Nicoletta Papademetris, supported by Tina Agnosteva, David Tran and Matt Barr, provided fund tax and structuring services to Shard Credit Partners Limited.

 


 

About Shard Credit Partners Limited:     
Shard Credit Partners Limited is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside. Fund strategies include SME direct lending and tech-focused venture debt.

Shard Credit Partners Limited is currently investing 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 Limited plans to hold a first close on its second UK lower mid-market direct lending fund during Q4 2022.

Shard Credit Partners Limited invests in solid 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 funds invest in businesses throughout the UK.

Recent investments include the venture debt financing for Rezatec Limited in August 2021, the refinancing and shareholder reorganisation of Midwest Mechanical and Electrical Services Ltd in August 2021, as well as the financing in support of the acquisition of The Technology Group by Gradwell Communications in March 2021. The SME direct lending fund also funded the MBI of JST Services Ltd in Scotland, the MBO and buy-and-build strategy of eQuality Solutions Ltd in the North-East of England, and the MBO of Chameleon Technology (UK) Ltd in Harrogate, North Yorkshire, each of which completed in December 2020.

In 2020, Shard Credit Partners Limited ranked eighth in the Debtwire UK Direct Lender league table published by Acuris. Shard Credit Partners Limited was recently awarded Alternative Finance Provider of the Year 2021 (North-East region) at the Insider Media Dealmakers Awards.

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

 

Contact details:

Newgate Communications

 

Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@newgatecomms.com

 

Shard Credit Partners Limited

 

Head of Business Development: ben.ellis@shardcreditpartners.com

Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

 

 

Shard Credit Partners exits its first venture debt fund investment in PassFort Ltd, in sale to Moody’s Corporation for an undisclosed sum.

PassFort Ltd (“PassFort”), a UK based SaaS regulatory technology company has been acquired by Moody’s Corporation (“Moody’s”) for an undisclosed sum.

PassFort, headquartered in London, was founded by Donald Gilles and Henry Irish in 2015. The company’s compliance platform provides automated ‘Know Your Customer’ (“KYC”) screening, Anti-Money Laundering (“AML”) services and facilitates automated risk monitoring for regulated financial firms.

Moody’s is a global risk assessment firm, headquartered in New York. Its data and analytical solutions provide transparency to decision-makers across the world, empowering individuals to take more informed and effective business actions. The acquisition of PassFort supports Moody’s previous investments in KYC and AML capabilities.

Shard Credit Partners provided a venture debt facility of £3.5 million to PassFort in May 2021, in support of capital expenditure to promote business growth. In the past six months, the company’s workforce has grown by the addition of more than 30 staff, taking the total number of employees working in PassFort to 72. Further to the company’s growth, it has now been acquired by a multinational corporation. The Shard Credit Partners’ loan to PassFort represents the asset manager’s first ever investment from its new Venture Debt Fund I, which is holding a first close later this month.

Will Chappel, Head of Venture Debt at Shard Credit Partners said: “I am delighted to announce that our first investment in the venture debt fund is also our first exit, after only six months, generating an IRR of 249.2% and 1.8x multiple on invested capital. We are thrilled for PassFort and its excellent management team. This deal is a great example of the strength of the UK Fintech sector, and we will continue to support UK based Fintech and Software companies with our innovative first to market UK tech venture debt strategy”.

Donald Gilles, CEO and Co-Founder of PassFort, commented: “We are, of course, delighted to become part of Moody’s, as we are joining a company with market leader status and more than 100 years of expertise in helping customers to manage risk. Together we will expand our automated KYC offerings and serve global customers with innovative RegTech solutions. But, we are equally grateful for the funding and support that Shard and our other investors have given PassFort – they believed in our vision and provided the capital and support to help us realise it.”

Alastair Brown, CEO of Shard Credit Partners said: “PassFort has been a remarkable first investment for our new UK tech venture debt strategy, which we launched earlier this year. This is a ringing endorsement for UK tech venture capital and we are tremendously excited to be supporting this rapidly growing and important part of the UK economy through our inaugural venture debt fund, which is entirely focused on UK B2B SaaS and Fintech investments, the only one of its kind.”

Legal advice to Shard Credit Partners was provided by Orrick LLP, led by Partner Scott Morrison and supported by Hridi Chowdhury.


About Shard Credit Partners:     
Shard Credit Partners is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside. Fund strategies include SME direct lending and tech-focused venture debt.

In January 2021, William Chappel joined Shard Credit Partners to launch the Venture Debt strategy which will be focused on senior secured loan investments in the Software as a Service (“SaaS”) and Fintech markets across the UK tech sector.

Shard Credit Partners is currently investing 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 UK lower mid-market direct lending fund during Q1 2022.

Shard Credit Partners invests in solid 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 funds invest in businesses throughout the UK.

The firm has robust ESG policies.  In particular, it is a strong supporter of female entrepreneurs and firms with meaningful female leadership, ownership, and senior management.  No less than 80% of its investee companies have female board representation and 60% have mixed sex equity ownership, a direct result of Shard Credit Partners implementation of ESG covenants and ESG margin ratchets in its loan agreements and investment documentation as standard.

Recent investments also include the venture debt financing for Rezatec Limited in August 2021, the refinancing and shareholder reorganisation of Midwest Mechanical and Electrical Services Ltd in August 2021, as well as the financing in support of the acquisition of The Technology Group by Gradwell Communications in March 2021. The Fund completed financing transactions for the MBI of JST Services Ltd in Scotland, the MBO and buy-and-build strategy of eQuality Solutions Ltd in the North-East of England, and the MBO of Chameleon Technology (UK) Ltd in Harrogate, North Yorkshire, each of which completed in December 2020.

In 2020, Shard Credit Partners ranked eighth in the Debtwire UK Direct Lender league table published by Acuris. Shard Credit Partners was recently awarded Alternative Finance Provider of the Year 2021 (North-East region) at the Insider Media Dealmakers Awards.

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

 

Contact details:

SEC Newgate

 

Tel: Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@secnewgate.co.uk

Shard Credit Partners Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

 

 

Shard Credit Partners provides £900K in support of the acquisition of The Educational Guidance Service Ltd by eQuality Solutions Ltd.

Shard Credit Partners has provided financing of £900K to portfolio company eQuality Solutions Ltd (“eQS”) to facilitate the acquisition of expert psychology business The Education Guidance Service (“EGS”).

eQS is a leading disability, diversity and inclusion specialist, headquartered in the North East. The group specialises in the support of students that qualify for an annual grant under the Disabled Students Allowance (“DSA”), as they enter higher education within the UK. The acquisition of EGS is the third acquisition by eQS in only ten months since the primary Management Buy-Out (“MBO”) in December 2020, as the group successfully executes its M&A buy-and-build strategy with the financial firepower being provided by the Shard Credit Partners.

EGS is based in Halifax, West Yorkshire, and has over 40 employees. The company was established over 22 years ago and is one of the largest providers of educational and occupational psychologists. EGS provides services to children, young people and adults who experience specific learning difficulties and social and emotional barriers both within educational settings and the workplace.

Due to EGS’ complementary capabilities, the combined group will benefit from positive synergies by building on eQS’s disability services division, which provides specialist assistive technology equipment, software, training and mentoring in the education, workplace and government sectors.

EGS will add £1.7 million of revenue and c. £250K of EBITDA to the Group and will increase the number of employees to c.80 in addition to 350 freelance psychologists, consultants, trainers, and delivery engineers across the UK. This acquisition, combined with the completion of two recent acquisitions, strongly positions eQS to achieve £30 million turnover by 2023.

The acquisition financing was arranged by Shard Credit Partners as part of a committed £12 million senior secured unitranche facility provided in December 2020 in support of the primary MBO of eQS and to provide firepower for strategic acquisitions.

Andy Gough, CEO of eQS views this acquisition as being pivotal to the group’s ‘buy-and-build’ growth strategy and in becoming the leading global provider of Diversity and Inclusion (D&I) solutions. Andy commented: “The past couple of years have not only seen a global health crisis but also an awakening regarding inclusion and acceptance of individuals identifying with a cognitive disability. This has created an even bigger demand for cognitive disability assessments within both the educational and workplace settings.

EGS is a leader in this market and quickly became our top choice for our next acquisition due to its capability and outstanding reputation. Upon first meeting with EGS founder Alex Griffiths, it was clear EGS is a strong strategic fit for the Group, aligning with our purpose and mission. I believe we share a mutual passion for helping people achieve their best by removing barriers. I am looking forward to welcoming the EGS team into the eQS family and believe we will achieve great things together.”

EGS founder Alex Griffiths said: “I have had many organisations interested in acquiring EGS over the last couple of years but eQS was the only acquirer I seriously considered for the business.  The eQS team stood out as down to earth people who understood what we were about and demonstrated a clear passion for looking after the EGS brand and developing it in the ‘EGS way’.  There was a synergy between our business culture and values, and a very obvious desire to look after the exceptional team who have helped us create this legacy of doing good and unlocking potential.”

Alastair Brown, CEO of Shard Credit Partners, commented: “We are pleased to continue to support our investment in eQS with additional funding to complete this important acquisition. As a lender we are very focused on supporting the environmental, social and governance agenda and very much look forward to the ongoing growth and development of eQS and EGS as they move together continuing with their great work.”

Advising eQS on the acquisition were Corporate Financiers Carl Swansbury, Rhiannon Nightingale, Connor McBride and Ben Kain of Newcastle-based RG Corporate Finance (RGCF), with financial and tax due diligence delivered by Grahame Maughan and Simon Whiteside of RG.

Legal advice was provided by Corporate Partner Tom Pollard and Corporate Solicitor Liam Stubbs of Ward Hadaway LLP.

Shard Credit Partners’ strategy is to become a leading provider of capital to entrepreneur and management-owned companies, VC backed growth businesses and private equity-owned companies focused on achieving transformational growth and expansion in the UK regions. During the past four years, Shard Credit Partners has invested more than £130.0 million in supporting regional Management Buy-Out transactions and M&A buy-and-build acquisition strategies, as well as growth capital expenditure financing.


About Shard Credit Partners:

Shard Credit Partners Ltd is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside. Fund strategies include direct lending and tech-focused venture debt.

In January 2021, William Chappel joined Shard Credit Partners to launch the Venture Debt strategy which will be focused on senior secured loan investments in businesses in the Software as a Service (“SaaS”) and Fintech markets across the UK tech sector.  Shard Credit Partners plans to hold a first close on its new Venture Debt Fund in Q4 2021.

Shard Credit Partners is currently investing 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 UK lower mid-market direct lending fund during Q1 2022.

Shard Credit Partners invests in solid 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 robust ESG focus; in particular, it is a strong supporter of female entrepreneurs and firms with meaningful female leadership, ownership and senior management.

Recent investments include the venture debt refinancing of PassFort Limited in May 2021, the venture debt financing for Rezatec Limited in August 2021, the financing in support of the acquisition of The Technology Group by Gradwell Communications in March 2021, as well as the refinancing and shareholder reorganisation of Midwest Mechanical and Electrical Services Ltd in August 2021. The fund completed financing transactions for the MBI of JST Services Ltd in Scotland, the MBO and buy-and-build strategy of eQuality Solutions Ltd in the North-East of England, and the MBO of Chameleon Technology Ltd in Harrogate, North Yorkshire, each of which completed in December 2020.

In 2020, Shard Credit Partners ranked eighth in the Debtwire UK Direct Lender league table published by Acuris. Shard Credit Partners was recently awarded Alternative Finance Provider of the Year 2020 (North-east region) in the Insider Dealmakers Awards.

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

 

 

 

Contact details:

Newgate Communications

 

Tel: Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@newgatecomms.com

Shard Credit Partners Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

 

Shard Credit Partners provides financing in support of the acquisition of GenGame Ltd by Chameleon Technology (UK) Ltd.

Shard Credit Partners has provided financing to portfolio company Chameleon Technology (UK) Ltd (“Chameleon Technology”) to facilitate the acquisition of GenGame Ltd (“GenGame”).

Chameleon Technology, based in Harrogate, North Yorkshire, is a market leader in smart energy technologies. Chameleon Technology’s seven million installed In-Home-Displays (“IHDs”) help millions of customers nationwide to understand and manage their energy consumption, allowing consumers to make increasingly economic and sustainable energy decisions. The acquisition of GenGame enhances Chameleon Technology’s capability to deliver value to consumers through real-time energy data and personalised insights, as the nation transitions to achieving net zero greenhouse gas emissions by 2050.

GenGame is an energy technology company based in Leicester, with an app product suite and data platform that integrates with smart meters, electric vehicles, billing systems and heating systems to provide households with a concise view of their energy consumption and payments. This empowers individuals to make changes to reduce their carbon footprint and to reduce their energy costs. Gengame’s technology helps utilities to engage with and create value with customers.

The acquisition will provide enhanced capabilities to the core group, predominantly accelerating the development of Chameleon Technology’s direct to consumer products. GenGame will become a wholly owned subsidiary of Chameleon Technology but will continue to operate out of Leicester. The current Managing Director of GenGame, Stephane Lee-Favier will continue to fulfil this role for GenGame as well as joining the Operations Board at Chameleon Technology to provide strategic input into future technology developments.

The acquisition was funded by Shard Credit Partners under an incremental facility provided as part of an existing £12.5 million senior secured unitranche facility provided in support of the primary Management Buy-Out (“MBO”) of Chameleon Technology in December 2020.

Mike Woodhall, CEO, Chameleon Technology, says: “Acquiring GenGame is a timely strategic move to further advance our product roadmap. Our focus is on enabling all consumers to understand and reduce both their energy consumption and carbon emissions. With this acquisition we gain another means of empowering those consumers and the ability to put the data needed to help them on their personal journey to net zero in their hands.

We are aiming to make the management of home energy smarter, simpler, greener and more personalised. GenGame’s experience in delivering applications that demystify some of the complexity of the energy system is going to be a big part of this. The acquisition is well-timed to leverage and support the transformation of the energy industry and will cement our position as a leader in smart home energy management.” 

Stephane Lee-Favier, Managing Director, GenGame Ltd, says: “It is great to be joining the Chameleon Technology group, and at a very exciting time for the future of energy. We are looking forward to scaling and commercialising what we have built and driving a consumer-led, low-carbon offering together. Both of our companies’ missions are totally aligned in allowing the consumer to see value in changing their home energy behaviour, and this makes it an ideal opportunity for GenGame.”

Alastair Brown, CEO of Shard Credit Partners commented: “We are delighted to have this opportunity to further support the growth and development of Chameleon Technology in its acquisition of GenGame. The combination of the two businesses will accelerate the combined group’s effort to help the UK achieve net zero in line with the UK Government’s objectives in the coming years.”

Legal advice and due diligence surrounding the acquisition was provided to Chameleon Technology by Clarion, led by Hitesh Taylor.

Tax and structuring advice to Chameleon Technology was provided by Ryecroft Glenton, led by Simon Whiteside.

Legal advice to GenGame Ltd was provided by Austin Moore & Partners, led by Louise Firth.

Legal advice to Shard Credit Partners was provided by Andrew Madden and Carys Hughes-Jones of Gateley Legal.

Shard Credit Partners’ strategy is to become a leading provider of capital to entrepreneur and management-owned companies, VC backed growth businesses and private equity-owned companies focused on achieving transformational growth and expansion in the UK regions. During the past four years, Shard Credit Partners has invested more than £130.0 million in supporting regional Management Buy-Out transactions and M&A buy-and-build acquisition strategies, as well as growth capital expenditure financing.


About Shard Credit Partners:     
Shard Credit Partners ltd (an Appointed Representative of Shard Capital AIFM LLP, authorised and regulated by the FCA – number 615463) is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside. Fund strategies include direct lending and tech-focused venture debt.

In January 2021, William Chappel joined Shard Credit Partners to launch the Venture Debt strategy which will be focused on senior secured loan investments in the Software as a Service (“SaaS”) and Fintech markets across the UK tech sector. Shard Credit Partners plans to hold a first close on its new Venture Debt Fund in Q4 2021.

Shard Credit Partners is currently investing 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 UK lower mid-market direct lending fund during Q1 2022.

Shard Credit Partners invests in solid 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 robust ESG focus; in particular, it is a strong supporter of female entrepreneurs and firms with meaningful female leadership, ownership, and senior management.

Recent investments include the venture debt financing for Rezatec Limited in August 2021, the refinancing and shareholder reorganisation of Midwest Mechanical and Electrical Services Ltd in August 2021, the venture debt refinancing of PassFort Limited in May 2021, as well as the financing in support of the acquisition of The Technology Group by Gradwell Communications in March 2021. The Fund completed financing transactions for the MBI of JST Services Ltd in Scotland, the MBO and buy-and-build strategy of eQuality Solutions Ltd in the North-East of England, and the MBO of Chameleon Technology (UK) Ltd in Harrogate, North Yorkshire, each of which completed in December 2020.

In 2020, Shard Credit Partners ranked eighth in the Debtwire UK Direct Lender league table published by Acuris. Shard Credit Partners was recently awarded Alternative Finance Provider of the Year 2020 (North-East region) in the Insider Dealmakers Awards.

Contact details:

 SEC Newgate

 

 

Tel: Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@secnewgate.co.uk

Shard Credit Partners Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

 

 

 

 

 

 

Shard Credit Partners provides £7.0 million for a transformational debt refinancing and shareholder reorganisation of Midwest Mechanical and Electrical Services Ltd.

Shard Credit Partners has provided financing of £7.0 million to facilitate a transformational debt refinancing and shareholder reorganisation of Midwest Mechanical and Electrical Services Ltd (“Midwest”).

Midwest, headquartered in Wolverhampton with c.120 staff, was founded by Steve Lokucewicz in 1988 as a small electrical contracting business providing maintenance and project services to a selection of local clients within the West Midlands. In the following years, the business grew consistently and started to develop its strong reputation for timely and high-quality project delivery. In 2002, Steve’s son Paul Lokucewicz joined the organisation and laid the foundations to allow further organic growth by expanding the customer base across construction, defence and the NHS. Midwest is renowned for its strong, longstanding relationships with its customers and for providing solutions on complex mechanical and electrical engineering projects from design and installation through to ongoing building maintenance following project completion.

The transaction refinances existing lenders and allows the exit of original founder Steve Lokucewicz as he fully retires from the business. This facilitates increased equity ownership for Paul and the management team that has been creating significant value in recent years following their successful MBO in 2019, as well as improving the gender diversity of the board composition which is an important ESG focus for Shard Credit Partners and Midwest. Midwest is entering an exciting growth phase in the coming years with a strong orderbook and high-profile project opportunities in the pipeline.

Paul Lokucewicz, Managing Director of Midwest said: “The Midwest Directors were extremely pleased to welcome Shard Credit Partners on board to assist with the refinancing of our MBO allowing us to bring the wider management team into the board room. This has provided us with a platform to further fuel the growth of the business, the refinancing process was extremely smooth and we found that the Shard Credit Partners team quickly understood our business and its needs”.

Alastair Brown, CEO of Shard Credit Partners, commented: “Our recent refinancing of Midwest represents our first transaction in the West Midlands and our tenth investment from Direct Lending Fund I. Having been extremely impressed with Paul and the senior management team during early discussions, we identified an opportunity to put forward an innovative refinancing structure that was ultimately well received and successfully implemented during the summer. We are also pleased to have made an impact from an ESG perspective by facilitating the appointment of Natasha Coates to the board around the time of the transaction. We all look forward to supporting the business and contributing to its stellar growth trajectory in future”.

Greg Easter, Partner at Heligan Group said: “We are delighted to have worked with Midwest and Shard Credit Partners on this deal.  Midwest is an owner managed business that has grown very impressively over the last ten years through high quality customer service and investment in people.  The financing and support from Shard will enable the business to continue this growth through the incentivisation of key management team members. The approach taken by Shard Credit Partners throughout the process made them excellent to deal with: the team showed flexibility in structuring a deal that worked for all parties and a straightforward approach to negotiating the transaction documents”.

Legal advice to Shard Credit Partners was provided by Gateley Legal, led by Banking & Finance partner Andrew Madden, supported by Victoria Elliott and William Bowler from Gateley Legal’s Corporate team. Legal advice to Midwest was provided by Shoosmiths.

Business and transactional tax advice was provided by Ryecroft Glenton’s Business Tax Partner Simon Whiteside and Director, Simon Hopwood. Financial due diligence was provided by Ryecroft Glenton’s Grahame Maughan, Jon Routledge and Andrew Cameron.

Shard Credit Partners’ strategy is to become a leading provider of capital to entrepreneur and management-owned companies, VC backed growth businesses and private equity-owned companies focused on achieving transformational growth and expansion in the UK regions.  During the past four years, Shard Credit Partners has invested more than £130 million in supporting regional Management Buy-Out transactions and M&A buy-and-build acquisition strategies, as well as growth capital expenditure financing.

 


 

About Shard Credit Partners:

Shard Credit Partners is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market.  Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside. Fund strategies include direct lending and tech-focused venture debt.

In January 2021, William Chappel joined Shard Credit Partners to launch the Venture Debt strategy which will be focused on senior secured loan investments in businesses in the Software as a Service (“SaaS”) and Fintech markets across the UK tech sector.  Shard Credit Partners plans to hold a first close on its new Venture Debt Fund in Q4 2021.

Shard Credit Partners is currently investing from its debut direct lending fund Shard Credit Partners Fund I, which held a first close in October 2017 at £90 million.  Shard Credit Partners plans to hold a first close on its second UK lower mid-market direct lending fund during Q1 2022.

Shard Credit Partners invests in solid 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.

Recent investments include the venture debt refinancing of PassFort Limited in May 2021, the venture debt financing for Rezatec Limited in August 2021, the financing in support of the acquisition of The Technology Group by Gradwell Communications in March 2021, as well as the MBI of JST Services Ltd in Scotland, the MBO and buy-and-build strategy of eQuality Solutions Ltd in the North-East of England, and the MBO of Chameleon Technology Ltd in Harrogate, North Yorkshire, each of which completed in December 2020.

In 2020, Shard Credit Partners ranked eighth in the Debtwire UK Direct Lender league table published by Acuris. Shard Credit Partners was recently awarded Alternative Finance Provider of the Year 2020 (North-east region) in the Insider Dealmakers Awards.

 


 

Contact details:

Newgate Communications

 

Tel: Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@newgatecomms.com

Shard Credit Partners Investor relations:   IR@shardcreditpartners.com

Business:    info@shardcreditpartners.com

Website:    www.shardcreditpartners.com

Shard Credit Partners provides a £3.0 million Venture Debt facility to Rezatec Ltd

Rezatec, with 50 staff and headquartered in the Harwell Space Cluster near Oxford, United Kingdom, provides Geospatial Artificial Intelligence (“AI”) as a SaaS service to its customers around the world that enables them to monitor and manage their ground-based assets and critical infrastructure remotely and at scale. Rezatec AI products deliver rapid payback in a range of industry sectors and a user experience that is unmatched in the market.

The Shard Credit Partners venture debt facility underpins the financing of Rezatec’s continued expansion of its sales and marketing teams and, in particular, supports the ongoing acquisition of new customers in North America in the Water and Forestry sectors.

Patrick Newton, CEO of Rezatec commented: “The venture debt facility provided by Shard Credit Partners further advances our ability to drive sales across key markets in North America, Europe and Asia, and helps strengthen our position as a geospatial AI leader in these geographies. This long-term facility scales in line with our future sales growth as we help our new and existing customers leverage geospatial analytics to manage their ground assets and critical infrastructure with new insight and precision, in a cost-effective way.”

William Chappel, Head of Venture Debt for Shard Credit Partners, commented: “We are delighted to have been able to provide financing support to Rezatec Ltd as part of the recently launched Shard Credit Partners UK tech-focused venture debt strategy. Rezatec have a very exciting offering, and we are looking forward to working closely with Patrick and the team as they build their business globally”.

Legal advice to Shard Credit Partners was provided by Orrick LLP, led by Partner Scott Morrison and supported by Hridi Chowdhury.

Shard Credit Partners’ strategy is to become a leading provider of capital to entrepreneur and management-owned companies, VC backed growth businesses and private equity-owned companies focused on achieving transformational growth and expansion in the UK regions. In the past two years, Shard Credit Partners has invested more than £130 million in supporting regional Management Buy-Out transactions and M&A buy-and-build acquisition strategies, as well as growth capital expenditure financing.

 


 

About Shard Credit Partners:
Shard Credit Partners is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market. Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments with equity upside. Fund strategies include direct lending and tech-focused venture debt.

In January 2021, William Chappel joined Shard Credit Partners to launch the Venture Debt strategy which will be focused on senior secured loan investments in businesses in the Software as a Service (“SaaS”) and Fintech markets across the UK tech sector. Shard Credit Partners plans to hold a first close on its new Venture Debt Fund in Q4 2021.

Shard Credit Partners is currently investing from its debut direct lending fund Shard Credit Partners Fund I, which held a first close in October 2017 at £90 million. Shard Credit Partners plans to hold a first close on its second UK lower mid-market direct lending fund during the fourth quarter of 2021.

Shard Credit Partners invests in solid 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.
Recent investments include the refinancing of MidWest Mechanical and Electrical Services Ltd in August 2021, the venture debt refinancing of PassFort Limited in March 2021, the financing in support of the acquisition of The Technology Group by Gradwell Communications in March 2021, the MBI of JST Services Ltd in Scotland, the MBO and buy-and-build strategy of eQuality Solutions Ltd in the North-East of England, and the MBO of Chameleon Technology Ltd in Harrogate, North Yorkshire, each of which completed in December 2020.

In 2020, Shard Credit Partners ranked eighth in the Debtwire UK Direct Lender league table published by Acuris. Shard Credit Partners was recently awarded Alternative Finance Provider of the Year 2020 (North-east region) in the Insider Dealmakers Awards.

Contact details:

Newgate Communications

 

Tel: Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@newgatecomms.com

Shard Credit Partners Investor relations: IR@shardcreditpartners.com

Business: info@shardcreditpartners.com

Website: www.shardcreditpartners.com

Shard Credit Partners provides a £3.5 million Venture Debt facility to PassFort Ltd

Shard Credit Partners has provided financing of £3.5 million ($4.89m USD) in support of the growth of ‘Reg-Tech’ business PassFort Ltd.

PassFort, headquartered in London with 40 staff, was founded in 2017. PassFort (https://passfort.com) is a compliance platform designed to automate the collection, verification and secure usage of due diligence (“DD”) and documentation for banks and financial services customers. The product gives the user the ability to oversee digital ‘Know Your Customer’ (“KYC”) practices, Anti Money Laundering (“AML”) requirements and identity checks plus allowing ongoing risk monitoring all-in-one solution.

PassFort is a product whereby the customers can create their policies and rules as to how they undertake their compliance practices in a fully automated manner. Their platform enables compliance teams to build a contextual understanding about their clients through live and real time searches, onboarding and continued red flag monitoring.

The Venture Debt facility has been provided to assist PassFort with expansion of the sales team, and to assist with the strong growth the business is currently going through.

Donald Gillies, CEO of PassFort said: “We are delighted to extend our partnership with Shard Credit Partners as part of our $16.2m Series A. The $4.89m being provided by Shard Credit Partners will enable PassFort to capitalise on significant growth across the digital economy and the growing need for our automated compliance solutions. It is a testament to the efforts of our team and company culture to have come through the last 12 months in a position where our products and our customer base are growing so rapidly. We are grateful to Will and the rest of the Shard Credit Partners team for believing in PassFort to be the cornerstone investment for this new UK fund and we look forward to partnering with them as both our businesses continue to grow.”

William Chappel, Head of Venture Debt for Shard Credit Partners, commented: “We are delighted to have been able to provide financing support to PassFort and we are extremely pleased to announce this as the first deal of the new Shard Credit Partners UK tech-focused venture debt strategy. PassFort is a name that I have followed for many years, and Donald and his team continue to build a dynamic and exciting offering. We are looking forward to working closely with PassFort as they continue to achieve strong growth milestones.”

Legal advice to Shard Credit Partners was provided by Orrick LLP, led by Partner Scott Morrison and supported by Hridi Chowdhury.

Shard Credit Partners’ strategy is to become a leading provider of capital to entrepreneur and management-owned companies, VC backed growth businesses and private equity-owned companies focused on achieving transformational growth and expansion in the UK regions.  In the past two years, Shard Credit Partners has invested more than £130 million in supporting regional Management Buy-Out transactions and M&A buy-and-build acquisition strategies, as well as growth capital expenditure financing. This transaction represents the first Venture Debt transaction by Shard Credit Partners.  

 

An introduction to Passfort:


About Shard Credit Partners:

Shard Credit Partners is an alternative investment fund manager focused on private credit strategies in the UK lower mid-market. Its funds seek to generate superior risk-adjusted returns from conservatively structured senior secured credit investments at low leverage, benefiting from robust documentation and a full suite of financial and non-financial covenants.

In January 2021, William Chappel joined Shard Credit Partners to launch the Venture Debt strategy which will be focused on senior secured loan investments in businesses in the Software as a Service (“SaaS”) and Fintech markets across the UK tech sector. Shard Credit Partners plans to hold a first close on its new Venture Debt Fund in Q4 2021.

Shard Credit Partners is currently investing from its debut direct lending fund Shard Credit Partners Fund I, which held a first close in October 2017 at £90 million. Shard Credit Partners plans to hold a first close on its second UK lower mid-market direct lending fund during the fourth quarter of 2021.

Shard Credit Partners invests in solid 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.

Recent investments include the financing in support of the acquisition of The Technology Group by Gradwell Communications in March 2021, the MBI of JST Services Ltd in Scotland, the MBO and buy-and-build strategy of eQuality Solutions Ltd in the North-East of England, and the MBO of Chameleon Technology Ltd in Harrogate, North Yorkshire, each of which completed in December 2020.

In 2020, Shard Credit Partners ranked eighth in the Debtwire UK Direct Lender league table published by Acuris.

 

Contact details:

Newgate Communications

 

Tel: Elisabeth Cowell / Robin Tozer / Isabelle Smurfit

Email: shardcapital@newgatecomms.com

Shard Credit Partners

Investor relations: IR@shardcreditpartners.com

Business: info@shardcreditpartners.com

Website: www.shardcreditpartners.com