Shawbrook accepts credit facility for Alcuin











Shawbrook Bank has provided a unitranche credit facility to Alcuin Capital Partners, to help finance the latte…

Shawbrook Bank has provided a unitranche credit facility to Alcuin Capital Partners, to help finance the latter’s participation in the management buy-out (MBO) of TuffX Glass.

Travers Smith was legal counsel to retail and commercial bank Shawbrook on the transaction, for which transaction values ​​have not been released.

Increasingly popular over the past decade, unitranche debt is a hybrid structure that merges senior and subordinated debt into a single facility at a blended interest rate.

Alcuin Capital Partners focuses its MBO investments in the UK lower middle market corporate sector, including financial services, leisure, manufacturing and retail entities.

TuffX, headquartered in Knowsley, Merseyside, was founded in 1997 and manufactures bespoke tempered glass for residential and commercial applications.

In a statement, TuffX CEO John Tierney called Alcuin “an ideal partner to contribute to the continued growth and development of TuffX”, while Alcuin partner Nick Seaman praised Alcuin’s “excellent track record. of the manufacturer in terms of operational excellence and product innovation”.

Shawbrook’s head of financial sponsors, Jen Murray, said Alcuin was working with TuffX Glass “to deliver its next phase of investment and expansion.”

Travers Smith brought in a London-based team led by financial partner Katie McMenamin with support from a number of associates.

This month, sustainable construction company Etex took advice from Freshfield Bruckhaus Deringer regarding its purchase of Spanish insulation company URSA.

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