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.
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