The deal

Our Corporate Finance team advised the shareholders on the successful disposal of Clearwater Group plc to Baird Capital. Our Corporate Finance team acted as both lead adviser and debt adviser to management and Baird Capital. In total, £34 million of funding was raised to support the transaction and provide facilities for planned future acquisition opportunities.

Baird Capital has acquired a majority interest in Clearwater Group, a leading provider of water treatment, hygiene, engineering and pump services to a blue chip customer base across the UK. RBS provided a debt package to support the transaction, and the on-going growth and acquisition strategy of the business.

Clearwater Group is headquartered in Camberley, Surrey and was founded in 1990 by the CEO, Guy Rowley. The business provides water solutions and services to estate owners and facilities managers across a variety of sectors, including food and beverage, pharmaceutical, industrial and the public sector. It has had consistent top-line growth throughout that period.

The deal will provide the capital required to accelerate the continuing growth of the business, and provides an exit for out-going Chairman, Steve Newton the other Founder. As part of the transaction, Baird Capital Managing Director, James Benfield will join the Clearwater board of directors.

“We have worked with the team over a number of years to position the business for this sale process, and to position us for our next phase of development and growth. The team of Simon, Ian and James supported us superbly throughout what was a complex transaction, offering pragmatic and professional advice, often mixed with great humour when required! We are delighted with the outcome, and to be working alongside Baird Capital to develop the business further and serve our valued client base.” Guy Rowley, CEO, Clearwater Group plc.

“We are delighted to partner with the Clearwater team, and to provide finance and support the business as it continues its impressive record of growth. Simon, Ian and the team at The team provided clear guidance to the team, led the banking with RBS and helped get the deal over the line. We look forward to their continued support with Clearwater going forward.” James Benfield, Managing Director, Baird Capital.

“We worked closely with Ian and his team from the very early stages of this transaction. With a genuine understanding of leveraged finance, Ian provided both pragmatic and commercially astute input in to the debt financing process, working with us towards a shared ambition of bringing the transaction to a successful conclusion.” Andrew Clayton, Managing Director, Financial Sponsors South & Midlands, RBS.