Debt Advisory

Team advises Graphite on Ten10 MBO funding

Debt Advisory team successfully secure debt raise for Graphite Capital

Background

Ten10 is a leading quality engineering and software testing services provider based in the UK and US, providing support managing the commercial and financial risks involved in developing and integrating software. The company has more than 250 staff supporting a large and diversified customer base of approximately 100 blue-chip organisations across the financial services, retail, legal and public sectors. Our Debt Advisory team was approached to advise Graphite Capital on raising debt to support a secondary management buyout (SMBO) following the strong growth of the company.

Action

Our Debt Advisory team were engaged by Graphite Capital to lead the process of raising funds to support the investment into Ten10, provide for future acquisitive growth, and working capital facilities. This involved presenting the opportunity to potential lenders, structuring the deal, securing credit approvals, negotiating terms, and handling all the banking legal documentation.

Outcome

In the two years prior, Ten10 had increased revenues by 28 per cent to more than £26 million, and the management team looked to reinvest a substantial percentage of its proceeds alongside Graphite Capital as part of the deal. The team successfully advised Ten10’s private equity investors on a debt raise to back the MBO of Ten10, all within a four-week timeframe.

4

4 weeks

The time it took for the team to successfully advise on a debt raise to back the MBO of Ten10.

Related team

Ian Milne

Ian Milne

  • Partner
  • Debt Advisory
  • London West End, Reading

Simon Sherliker

Simon Sherliker

  • Partner
  • Debt Advisory
  • London West End, Reading

Stuart Sweeney

Stuart Sweeney

  • Director
  • Debt Advisory
  • London West End

Julie Lada

Julie Lada

  • Senior Manager
  • Debt Advisory
  • London West End