Guggenheim Investments Provides Innovative Financing Solution to LDC
(Thomson Reuters ONE) -
LONDON, May 02, 2017 (GLOBE NEWSWIRE) -- Guggenheim Investments, the global
asset management and investment advisory division of Guggenheim Partners, in
partnership with LDC Private Equity, announced on April 20 one of the first
Unitranche plus Asset-Based Lending (ABL) solutions in the European market.
LDC, the leading UK mid-market private equity investor, has backed the secondary
buyout of Addo Food Group ("Addo" or "the business"), the UK's leading chilled
savoury pastry producer in a transaction that marks a successful exit for Vision
Capital.
"We are pleased to have Guggenheim as our financing partner for our investment
into Addo Food Group," remarked Victoria Mercer, Investment Director at LDC.
"Guggenheim's flexible approach and credit decisions facilitated a pragmatic and
efficient financing process. We look forward to working alongside the management
team to support the next phase of growth for the company."
The business has been supported with a new Unitranche facility provided by
Guggenheim with existing ABL facilities rolled forward by PNC.
"We're pleased to have worked on one of the first Asset-Based Lending plus
Unitranche transactions in the European market," said Tara Moore, Managing
Director, Guggenheim Investments. "Our creative structuring and flexible capital
base will continue to allow us to provide innovative solutions to LDC and Addo
as the business continues to grow."
Headquartered in Nottingham, Addo produces more than 287 million packs of
chilled savoury pastry products every year. The business manufactures a range of
own-brand and branded products, including sausage rolls, hot pies, slices, pork
pies, scotch egg products, and quiches, which it supplies to the UK's leading
names in food retail including all the major supermarkets.
About Guggenheim Investments
Guggenheim Investments is the global asset management and investment advisory
division of Guggenheim Partners with $209 billion1 in total assets across fixed
income, equity, and alternative strategies. We focus on the return and risk
needs of insurance companies, corporate and public pension funds, sovereign
wealth funds, endowments and foundations, consultants, wealth managers, and
high-net-worth investors. Our 275+ investment professionals perform rigorous
research to understand market trends and identify undervalued opportunities in
areas that are often complex and underfollowed. This approach to investment
management has enabled us to deliver innovative strategies providing
diversification opportunities and attractive long-term results.
1Guggenheim Investments total asset figure is as of 12.31.2016. The assets
include leverage of $12.3bn for assets under management and $0.4bn for assets
for which we provide administrative services. Guggenheim Investments represents
the following affiliated investment management businesses of Guggenheim
Partners, LLC: Guggenheim Partners Investment Management, LLC, Security
Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds
Distributors, LLC, Guggenheim Real Estate, LLC, GS GAMMA Advisors, LLC,
Guggenheim Partners Europe Limited and Guggenheim Partners India Management.
Media Contact
Ivy McLemore
Guggenheim Partners
212.518.9859
Ivy.McLemore(at)GuggenheimPartners.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Guggenheim Partners via GlobeNewswire
Datum: 02.05.2017 - 10:30 Uhr
Sprache: Deutsch
News-ID 539550
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Business News
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"Guggenheim Investments Provides Innovative Financing Solution to LDC"
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